Description of Business

6 Months Ended

Jun. 30, 2011

1.	Description of Business

Antares Pharma, Inc. (the "Company" or "Antares") is an emerging pharma company that focuses on self-injection pharmaceutical products and technologies and topical gel-based products. The Company's subcutaneous and intramuscular injection technology platforms include VibexT disposable pressure-assisted auto injectors, VisionT reusable needle-free injectors, and disposable multi-use pen injectors.

In the injector area, the Company has licensed its reusable needle-free injection device for use with human growth hormone ("hGH") to Teva Pharmaceutical Industries, Ltd. ("Teva"), Ferring Pharmaceuticals BV ("Ferring") and JCR Pharmaceuticals Co., Ltd. ("JCR"), with Teva and Ferring being the Company's two primary customers. The Company's needle-free injection device is used by Teva with the Tjet� injector system to administer their Tev-Tropin� brand hGH marketed in the U.S. and the Company's needle-free injection device is used by Ferring with their 4mg and 10mg hGH formulations marketed as Zomajet� 2 Vision and Zomajet� Vision X, respectively, in Europe and Asia. The Company has also licensed both disposable auto and pen injection devices to Teva for use in certain fields and territories and is engaged in product development activities for Teva utilizing these devices. The Company is currently developing commercial tooling and automation equipment for Teva related to a fixed, single-dose, disposable injector product containing epinephrine using the Company's VibexT auto injector platform. In addition to development of products with partners, in the first quarter of 2011, the Company initiated a clinical study evaluating its proprietary VibexT MTX methotrexate injection system being developed for the treatment of rheumatoid arthritis. The Company also continues to support existing customers of its reusable needle-free devices for the administration of insulin in the U.S. market through distributors.

In the gel-based area, the Company received notice from the U.S. Food and Drug Administration ("FDA") in April 2011 of the FDA's acceptance for filing for review of a New Drug Application ("NDA") for Anturol�, an oxybutynin ATDT gel for the treatment of overactive bladder ("OAB"). The NDA submission was supported by a Phase 3 clinical trial conducted by the Company. In July 2011, the Company entered into a licensing agreement with Watson Pharmaceuticals, Inc. ("Watson") under which Watson will commercialize Anturol�, once approved. The Company also has a partnership with BioSante Pharmaceuticals, Inc. ("BioSante") that includes LibiGel� (transdermal testosterone gel) in Phase 3 clinical development for the treatment of female sexual dysfunction ("FSD"), and Elestrin� (estradiol gel) currently marketed in the U.S. for the treatment of moderate-to-severe vasomotor symptoms associated with menopause.

The Company has two facilities in the U.S. The Parenteral Products division 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 auto injector and pen injector systems. The Company's Pharma division is located in Ewing, New Jersey, where pharmaceutical products are developed utilizing both the Company's transdermal systems and drug/device combination products. The Company's corporate offices are also located in Ewing, New Jersey.