Pozen Earns $10 Million From AstraZeneca As FDA Accepts Drug Application
31 August 2009 - 2:39PM
Dow Jones News
DOW JONES NEWSWIRES
Pozen Inc. (POZN) earned a $10 million milestone payment from
AstraZeneca PLC (AZN) as the U.S. Food and Drug Administration
Monday accepted the application for its joint-ailment treatment
Vimovo.
The news recently sent Pozen shares up 13.6% to $7.35
premarket.
Vimovo is a tablet combining several drugs for joint ailments
like osteoarthritis and rheumatoid arthritis. It is being studied
in patients at risk of ulcers associated with nonsteroidal
anti-inflammatory drugs, or NSAIDs, which is one of the drugs in
Vimovo's combination. About half of the 27 million U.S.
osteoarthritis patients taking NSAIDs are at risk of ulcers.
The North Carolina biotech company has posted four consecutive
quarters of losses.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com