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Antares Pharma terminates marketing agreement with LEO; regains Otrexup for psoriasis

  • Due to the lack of market penetration, Antares Pharma (ATRS -1.8%) terminates the exclusive marketing and promotion agreement with LEO Pharma A/S for Otrexup (methotrexate) injection for the indication of systematic control of severe recalcitrant psoriasis in adults. According to Symphony Health Solutions, total Q1 prescription volume for this indication was <5% of the total written for Otrexup.
  • LEO previously paid Antares $10M for the right to commercialize Otrexup. Antares will recognize ($5.2M) from deferred revenue in Q2 for the unamortized portion based on a three-year term.
  • The company is evaluating its options, including recruiting a new sales partner.

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