Antares Pharma Inc (NASDAQ:ATRS) announced recently the positive Phase III trials that may support the approval of Xyosted , which was initially known as the Quickshot Testosterone. The approval date for Xyosted by the FDA is on October 20 and the company is optimistic that the approval for the drug will be guaranteed without major obstacles considering the encouraging results demonstrated following the drug administration.
The Xyosted is one of the company’s leading product candidates which are continuously being improved to treat the testosterone deficiency syndrome in patients. According to the Traders News Source, an independent equity research and corporate access company, the global injectable drug market is estimated to grow significantly up to $625 billion by 2021, with an annual growth rate of about 11.5% from now up until 2021.
Antares develops pharmaceutical products that are mostly administered through injections other than by mouth and they focus more on the self-injection and topical gel products. The company continuously identifies the existing or new drug formulations that have been approved and through its drug delivery technology, improves the drug compounds and delivery modes.
Currently, the company has a huge portfolio of single and partnered products including a range of approved commercial products and others that are being reviewed by the FDA. Furthermore, the company has partnered with several well-known drug manufacturing companies such as the Teva Pharmaceutical and Ferring among others.
The anticipated sales growth is largely dependent on the increase in the approved products which will substantively augment the demand for such products on the market. In addition, Antares currently has the ongoing development of injectible drugs at different clinical stages and the continuous escalation of certain medical conditions may require the application of injectible medications.
The Traders News Source estimates that the market for testosterone replacement therapy will grow to reach about $1.3 billion by 2014 with the injectible medication overtaking the currently existing gel-based and creams medication. Antares presently has three proprietary drug delivery methods, two of them already approved by the FDA.
