Antares Pharma Developing Disposable Injection Device for Teva Pharmaceutical Industries
EXTON, Pa. -- Antares Pharma Inc. said Tuesday it is developing a new disposable injection device for Israeli generic drugmaker Teva Pharmaceutical Industries Ltd.
The drug delivery technology developer said Teva is purchasing the device for an undisclosed product still awaiting regulatory approval.
As part of the deal, Antares will receive an initial cash payment, as well as milestone fees and a negotiated percentage of Teva's profit on the unnamed drug.
Shares of Antares, which closed Monday at $1.10 on the American Stock Exchange, were up 4 cents, or 3.6 percent, at $1.14.
EXTON, Pa. -- Antares Pharma Inc. said Tuesday it is developing a new disposable injection device for Israeli generic drugmaker Teva Pharmaceutical Industries Ltd.
The drug delivery technology developer said Teva is purchasing the device for an undisclosed product still awaiting regulatory approval.
As part of the deal, Antares will receive an initial cash payment, as well as milestone fees and a negotiated percentage of Teva's profit on the unnamed drug.
Shares of Antares, which closed Monday at $1.10 on the American Stock Exchange, were up 4 cents, or 3.6 percent, at $1.14.
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