Vibex epinephrine, Teva deal
Shadow
Here are the extracts from the 10K:
Vibex™ with Epinephrine
We have designed the Vibex™ for a product containing epinephrine and have scaled up the commercial tooling and molds for this product. During 2012, 2011 and 2010, we received approximately $850,000, $1,000,000 and $800,000, respectively, from Teva for this tooling as well as other development work for this program. In 2012, we recognized revenue of approximately $2,500,000 for work performed for Teva.
--------------------------------------------------------------
The next part is the one that can be open to interpretations:
Under a separate agreement, Teva has agreed to provide the Company with device orders of an undisclosed amount in the years 2013 and 2014, to make a milestone payment to the Company upon FDA approval of epinephrine auto-injector, and to assume all litigation costs related to the patent litigation between Teva and Meridian Medical
--------------------------------------------------------------
And general section:
In July 2006, the Company entered into an exclusive License Development and Supply Agreement with Teva. Pursuant to the agreement, Teva is obligated to purchase all of its delivery device requirements from Antares for an auto injector product containing epinephrine to be marketed in the United States and Canada. Antares was entitled to an upfront cash payment, milestone fees, a negotiated purchase price for each device sold, as well as royalties on sales of their product. This agreement will continue until the later of July 2016 or the expiration date of the last to expire patent covering the device or product that is filed no later than 12 months after FDA approval, and will be automatically renewed for successive periods of two years each
-----------------------------------------------------------------
