Antares Pharma announced it has forged an exclusive promotion and marketing agreement with Denmark-based LEO Pharma to detail OTREXUP (methotrexate) to dermatologists for the symptomatic control of severe recalcitrant psoriasis in adults. Antares may receive up to $20 million in milestone payments, according to the terms of the agreement, including an upfront payment of $5 million. The company will record all product revenue associated with future dermatology prescriptions and pay LEO Pharma a percentage of OTREXUP net sales generated in dermatology. In turn, LEO Pharma will be responsible for promotion and marketing activities in dermatology.
The collaboration with LEO Pharma will be mutually beneficial, creating a strong partnership that allows Antares to team up with and derive benefit from a successful commercial organization, while LEO Pharma expands its portfolio with a new product in its field of expertise.
LEO Pharma has a dedicated sales force of 75 representatives in the United States that are focused exclusively on treating psoriasis, making the company a viable entity for introducing and establishing OTREXUP as a valuable new treatment option with significant growth potential in dermatology. LEO's sales force will complement Antares' own dedicated sales representatives, who are detailing OTREXUP for rheumatoid arthritis.
"We are excited to launch and promote OTREXUP to dermatologists as an important new treatment option for psoriasis patients, and we look forward to working with our partner, Antares, to provide the necessary service, knowledge and expertise to successfully introduce OTREXUP," said LEO Pharma A/S Executive Vice President Lars Olsen. "As a global leader in the treatment of psoriasis, we have continually offered innovative and novel treatment solutions to patients. The ease of use and improved bioavailability that OTREXUP delivers will expand our current portfolio of products for the treatment of psoriasis and help LEO Pharma continue to realize its vision of being the world's leading dermatology specialty pharmaceutical company."
For more information about Antares Pharma, visit antarespharma.com
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