A Chapel Hill drug association that has already won regulatory capitulation for a migraine disinfectant expects to sense by the finish of Apr either the initial arthritis drug will pass muster.
Pozen officials are available word from the Food and Drug Administration on Vimovo, an arthritis drug it will marketplace with partner AstraZeneca. The companies design an FDA preference by Apr 30.
Winning capitulation would trigger a $20 million remuneration to Pozen from AstraZeneca. It additionally would have Pozen one of the couple of small drug companies formed in the Triangle to have mixed products authorized for studious use.
"At Pozen, we are you do what is ordinarily referred to in a little circles as sharp waiting," CEO John Plachetka pronounced on a discussion call with Wall Street analysts to plead fourth-quarter results.
Pozen voiced that the net loss widened to $5.8 million, or nineteen cents per share. That compared to a $4.1 million net loss, or fourteen cents per share, during the same duration a year earlier. Revenue fell to $4.2 million from $14 million.
Pozens Treximet migraine tablet is marketed by the bigger partner GlaxoSmithKline. Pozen perceived kingship income of $4.3 million from GSK in 2009, on Treximet sales of $86.1 million. But Pozens kingship rate for Treximet increasing on Jan. 1 to eighteen percent from 5 percent, definition the association will embrace a larger share of the drug sales this year.
Pozen shares fell 10 cents to close at $6.28 Wednesday.
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