Antares, Teva sign license agreement for disposable injection device

By Elaine Rigoli

Tampa, Fla., July 18 - Antares Pharma, Inc. and Teva Pharmaceutical Industries Ltd. have signed a license agreement to develop and supply a new Antares disposable injection device.

Under the agreement, Teva is obligated to buy all of its delivery-device requirements from Antares for use with an undisclosed product that is subject to approval by regulatory authorities, according to a news release.

The finished product is expected to be marketed in the United States and Canada.

Antares will receive an upfront cash payment, milestone fees and a negotiated percentage of the gross profit as well as a transfer price for the device. Teva also received an option for rights in other territories.

"Our agreement builds upon the successful relationship which was established with Teva in November of 2005. This further confirms the compelling patient benefits offered by our proprietary injection systems, which have the potential to add value to a wide range of injectable pharmaceutical products," Antares president and chief executive officer Jack E. Stover said in the release.

Exton, Pa.-based Antares is a pharmaceutical product development company.

Based in Tikva, Israel, Teva is a generic and branded pharmaceutical company.

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