Ewing-based Antares Pharma Inc. announced today its exclusive promotion and marketing agreement with Denmark-based LEO Pharma regarding the latter company's Otrexup psoriasis treatment.
According to the announcement, Antares will receive a $5 million initial payment and up to $15 million in additional milestone payments. Antares Pharma will record all product revenue associated with future dermatology prescriptions and pay LEO Pharma a percentage of Otrexup net sales generated in dermatology. LEO Pharma will be responsible for promotion and marketing activities in dermatology.
Antares appointed a new senior vice president for medical earlier this month.
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