Antares develops pen injector for Teva

US firm Antares Pharma has entered into a fourth agreement with Israel-headquartered Teva Pharmaceutical Industries under which it will develop and supply a new disposable pen injector for use with two patient-administered pharmaceutical products.

Teva will purchase all of its requirements for the pen injector from Antares for use with the two undisclosed products (both products are subject to Food and Drug Administration approval). Antares will receive an upfront cash payment, milestone fees and an undisclosed percentage of the selling price of the combined pharmaceutical and device product, net of certain costs. Antares is the manufacturer of record and will also receive the selling price for each injector device from Teva. In addition, the US firm retains rights to the new pen injector for use with other pharmaceutical and biological products not covered under the agreement.

Jack Stover, chief executive of Antares, commented: "these potential new products contribute further confidence to our sales ramp up and royalty growth plans with four new product introductions possible between 2008 through 2012. We also now have a strong competitive entry in a new growth segment of the injectable pen market." Mr Stover added: "we believe the expansion of our Teva relationship is another step forward to our becoming a major specialty pharma company."