ARS Pharmaceuticals Air Lease ALK-Abello

ARS Pharmaceuticals (SPRY) announced that the company has entered into an agreement with ALK-Abello A/S (AKBLF) to co-promote neffy, the only approved needle-free treatment for Type I allergic reactions including anaphylaxis, to up to 9,000 pediatricians. This agreement accelerates ARS Pharma’s efforts to reach these key prescribers prior to the back-to-school season. Under the terms of the four-year deal, ARS Pharma will recognize all U.S. revenue and continue to have sole responsibility for all U.S. commercialization activities including marketing, medical affairs, market access, production, distribution, pharmacovigilance, quality and safety. Other key terms of the agreement include: neffy will be in the primary position for ALK sales representatives during the first two years of the agreement, and co-primary position during the last two years of the agreement. ARS Pharma will compensate ALK for its costs of the ALK sales force promotion activities through payment of a quarterly base fee. ALK will be eligible for performance-based payments based upon exceeding certain market share thresholds starting in the second year of the partnership. That specified initial market share threshold increases to a threshold of 50% market share during years three and four of the partnership. ARS Pharma retains the option to terminate the partnership at any time upon a change of control, in addition to other termination option rights.