Antares Pharma receives second milestone payment from LEO Pharma Antares Pharma announced the receipt of a second milestone payment of $5M from LEO Pharma. The milestone payment was received in connection with the launch of OTREXUP and the achievement of a specific percentage of patient lives covered by managed care organizations. To date, Antares has received $10M in milestone payments from LEO Pharma. On November 14, 2013, the company announced an exclusive license and promotion agreement with LEO Pharma for detailing OTREXUP to dermatologists for symptomatic control of severe recalcitrant psoriasis in adults. Under the terms of the agreement, Antares may receive up to a total of $20M in milestone payments. LEO Pharma will be responsible for all promotion and marketing costs in dermatology. 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.
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