Antares Pharma, Inc. has received a second $5 million milestone payment from LEO Pharma in connection with the launch of OTREXUP. In November 2013, the companies entered an exclusive license and promotion agreement for OTREXUP (methotrexate) for symptomatic control of severe recalcitrant psoriasis in adults, under which Antares is eligible to receive as much as $20 million in milestone payments. LEO Pharma is responsible for all promotion and marketing costs in dermatology.
“We are excited that our partnership with LEO Pharma continues to evolve quickly,” said Paul Wotton, Ph.D., president and chief executive officer of Antares Pharma. “In just four short months since the approval of OTREXUP, our collaboration has achieved a second significant milestone while still very early in the rheumatoid arthritis launch phase. We look forward to a successful launch of OTREXUP for the psoriasis indication, and the expertise LEO’s dedicated U.S. sales force of 75 representatives will bring to the overall commercialization plan.”