May 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Pozen Inc. (NASDAQ: POZN) said it has received a $20 million milestone payment from AstaZeneca (NYSE: AZN) for the U.S. Food and Drug Administration approval of Vomovo delayed-release tablets on April 30.

Pozen said it will transfer ownership of the Investigational New Drug application and New Drug Application for VIMOVO to AstraZeneca over the next few weeks.

An additional $25 million milestone will be payable if Vimovo receives marketing approval in a major ex-U.S. market. Under the terms of the agreement, AstraZeneca will pay Pozen royalties on net sales of Vimovo worldwide and Pozen could receive up to $260 million in sales performance milestones, if certain sales thresholds are achieved.

AstraZeneca has responsibility for all commercialization activities under the deal.

Vimovo is approved for the relief of the signs and symptoms of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis and to decrease the risk of developing gastric ulcers in patients at risk of developing NSAID-associated gastric ulcers.

The drug is a fixed-dose combination of enteric-coated naproxen, a pain–relieving non-steroidal anti-inflammatory drug and immediate-release esomeprazole, a proton pump inhibitor.

North Carolina-based Pozen creates novel pharmacologic agents primarily for pain and pain-related conditions by combining existing drug therapies.

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