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Antares Pharma enters into development agreement with Pfizer Inc.

  • Antares Pharma (NASDAQ:ATRS+13% premarket on entering into an agreement with Pfizer (NYSE:PFE) to develop a combination drug device rescue pen, which will utilize the Antares QuickShot auto injector and an undisclosed Pfizer drug.
  • Pfizer will pay for the development of the product and will be responsible for obtaining FDA approval of the combination product.
  • The parties intend to enter into a separate supply agreement pursuant to which the company will provide fully packaged commercial ready finished product to Pfizer at cost plus margin and Pfizer will then be responsible for commercializing the product in the United States, pending FDA approval.  Antares will then receive royalties on net sales on the combination product.

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