Antares Pharma Receives Development Milestone Payment

  Antares Pharma Receives Development Milestone Payment

                   Company’s Pipeline Continues to Advance

Business Wire

EWING, N.J. -- October 02, 2012

Antares Pharma, Inc. (NASDAQ: ATRS) today announced that its partner Pfizer
Inc. (NYSE: PFE) achieved a development milestone related to its undisclosed
Consumer Healthcare product. This development milestone in Antares’
collaboration with Pfizer triggers a $750,000 payment to Antares. In December
of 2011, Antares licensed to Pfizer’s Consumer Healthcare Business Unit one of
its drug delivery technologies to develop an undisclosed product on an
exclusive basis for North America. Pfizer has assumed full cost and
responsibility for all clinical development, manufacturing and
commercialization of the product in the licensed territory, which also
includes certain non-exclusive territories outside of North America. Antares
received an upfront payment, and will receive development and sales based
milestones, as well as royalties on net sales for three years post launch in
the U.S.

“We are extremely pleased with the progress Pfizer has made on this important
product opportunity,” said Paul K Wotton, Ph.D., President and Chief Executive
Officer. “We look forward to the continued progress of the development program
on a product that we believe targets a significant therapeutic area.” He
added, “The rapid advancement of our pipeline with world class partners such
as Pfizer provides a diversified business platform for Antares while we
continue to internally develop our proprietary programs, which include novel
injectable products for self-administration such as VIBEX MTX Medi-Jet for
rheumatoid arthritis and VIBEX QS T for testosterone replacement therapy.”

About Antares Pharma

Antares Pharma focuses on self-administered parenteral pharmaceutical products
and topical gel-based medicines. The Company's technology platforms include
VIBEX™ disposable Medi-Jet, disposable multi-use pen injectors and Vision™
reusable needle-free injectors marketed as Tjet^® and Zomajet^® by Teva
Pharmaceutical Industries, Ltd (Teva) and Ferring Pharmaceuticals (Ferring),
respectively. Antares Pharma has a multi-product deal with Teva that includes
Tev-Tropin^® human growth hormone (hGH), VIBEX epinephrine and several other
products. Antares Pharma’s partnership with Ferring includes Zomacton^® hGH.
In the U.S. Antares has received FDA approval for Gelnique 3%™, a treatment
for overactive bladder that is marketed by Watson Pharmaceuticals, Inc.
Elestrin^® (estradiol gel) is FDA approved for the treatment of
moderate-to-severe vasomotor symptoms associated with menopause, and is
marketed in the U.S. by Jazz Pharmaceuticals. Antares Pharma has two
facilities in the U.S. The Parenteral Products Group located in Minneapolis,
Minnesota directs the manufacturing and marketing of the Company’s reusable
needle-free injection devices and related disposables, and develops its
disposable pressure-assisted VIBEX Medi-Jet and pen injector systems. The
Company’s corporate head office and Product Development Group are located in
Ewing, New Jersey.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These statements are indicated by the words “may,” “will,” “plans,”
“intends,” “believes,” “expects,” “anticipates,” “potential,” “could,”
“would,” “should,” and similar expressions. Such forward-looking statements
are not guarantees of future performance and are subject to risks and
uncertainties that may cause actual results to differ materially from those
anticipated by the forward-looking statements. These risks and uncertainties
include, among others, changes in revenue growth, difficulties or delays in
the initiation, progress, or completion of the Company’s product development
plans and the Company’s ability to meet development milestones, and changes in
general market conditions that could affect product sales. Additional
information concerning these and other factors that may cause actual results
to differ materially from those anticipated in the forward-looking statements
is contained in the "Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31, 2011, and in the Company's other
periodic reports and filings with the SEC. The Company cautions investors not
to place undue reliance on the forward-looking statements contained in this
press release. All forward-looking statements are based on information
currently available to the Company on the date hereof, and the Company
undertakes no obligation to revise or update these forward-looking statements
to reflect events or circumstances after the date of this press release,
except as required by law.

Contact:

Antares Pharma, Inc.
Jack Howarth
Vice President, Corporate Affairs
609-359-3016
jhowarth@antarespharma.com
 
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