FDA Approves OTC Version of Heartburn Drug Zegerid
From Associated Press (December 2, 2009)
WHITEHOUSE STATION, N.J.--Merck & Co. and Santarus Inc. said
Tuesday the Food and Drug Administration approved Merck's
over-the-counter version of the Santarus prescription heartburn
drug Zegerid.
San Diego-based Santarus had partnered with Schering-Plough Corp.
on the over-the-counter version, and stands to receive a $20
million milestone payment based on the approval. It could also get
up to $37.5 million in sales milestone payments, along with
royalties on sales.
Merck said Zegerid OTC will be available in the first half of 2010.
The drug will be sold by the Schering-Plough Health Care Products
division, which Merck acquired in November as part of its
acquisition of the drug maker.
The drug, which combines omeprazole and sodium bicarbonate, is
intended to prevent heartburn by suppressing stomach acid for 24
hours.
In aftermarket trading, Santarus stock jumped $1.44, or 33.6
percent, to $5.73. The stock rose 7.5 percent during the day to
close at $4.29, and reached a 52-week high of $4.39 in intraday
trading.
Posted: December 2009
