Dallas, Texas 03/19/2014 (FINANCIALSTRENDS) – Antares PharmaInc (NASDAQ:ATRS) which is just celebrating its better-than-expected fourth quarter results and full year financial results, has fallen into a legal hassle, with Chicago-based Medac Pharma Inc, a subsidiary of Germany-based medacGesellschaftfürklinischeSpezialpräparatembH filing a patent violation.
The issue is related to a recently approved patent for – methotrexate, which also contains Autopen.
Medac as holders of US Patent 8,664,231, called as ‘concentrated Methotrexate Solutions’ assumes superior rights to supply, use distribute and sell methotrexate as of march 4, 2014.
Antares PharmaInc (NASDAQ:ATRS) has received approval from the Food and Drug Administration to market OTREXUP, a trademark drug which is used as an injection to treat multiple forms of rheumatoid arthritis, psoriasis, as well aspolyarticular idiopathic arthritis in children. It has commenced marketing of the same as of January 15, 2014, with the help of marketing group LEO Pharma.
Medac Pharm has meanwhile sought financial compensation from the courts for the infringed copyrights and sale of Otrexup in the US by Antares PharmaInc (NASDAQ:ATRS). Atres and LEO Pharma are yet to offer a response on the issue.
Fourth quarter saw positive news
The fourth quarter for this drug maker proved to be good quarter as it held forth on two counts – first, the launch of the rheumatoid drug for arthritis –Otrexup; the second factor were the positive results for Phase 2 trials for a testosterone drug the company produces- VibexQuickShot.
Antares PharmaInc (NASDAQ:ATRS) had at the end of the second week of February reported that the phase 2 trials for its testosterone injector-VibexQuickShot-had achieved required levels for the drug, to proceed to the next phase. The study was conducted on a group of 29 patients. This has been a good start in 2014 for ATRS as the market value for a testosterone – replacement market has been $2.8 billion, as per sales recorded in 2013.