Pfizer ($PFE) isn't exactly wallowing in self-pity now that its blockbuster cholesterol drug Lipitor faces generic competition. Now is the time to make deals, think of new ways to deliver drugs better and plan for the future.
Part of Pfizer's plan includes inking deals with smaller companies developing novel drug delivery tech. One of Pfizer's new allies--Antares Pharma--announced such an agreement on Dec. 2 in which it will license its drug delivery technology to Pfizer's consumer healthcare division, toward development of an "undisclosed product."
As usual, financial details were not disclosed. But Antares stands to gain various payments upfront, additional cash when it meets development and sales milestones and royalties on net sales three years after a U.S. commercial launch.
So what drug delivery tech is possibly involved? And what will the new drug be? Unfortunately, no one is talking yet. Antares notes in the deal announcement that its tech includes the Vibex disposable pressure-assisted auto injectors and disposable multi-use pen injectors, plus its Vision reusable needle-free injectors distributed by Teva Pharmaceutical Industries ($TEVA) and Ferring Pharmaceuticals under different names. Overall, the company describes its products as "self-injection pharmaceutical products and topical gel-based medicines."
Antares' new topical gel to treat overactive bladders gained FDA approval Dec. 8, and Watson Pharmaceuticals ($WPI) will sell it under an exclusive licensing agreement.
- here's the release
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