Pozen Inks Deal With J&J Company for Migraine Drug
From Associated Press (March 23, 2011)
Shares of Pozen Inc. climbed Wednesday in premarket trading after the drug developer announced a deal with Johnson & Johnson's Cilag GmbH International division to make and sell its migraine drug in South America.
Pozen, based in Chapel Hill, N.C., said Cilag will sell its drug, MT 400, in Brazil, Colombia, Ecuador and Peru. Pozen will receive an upfront payment plus milestone and royalty payments.
The deal will expire in each country on the 15th anniversary of the first commercial sale of MT 400 in that country.
Pozen said in a statement the deal marks the first step in bringing its treatment to migraine patients living outside the United States.
MT 400 is a combination of sumatriptan and naproxen sodium. Pozen licensed U.S.-only rights for the treatment to British drug maker GlaxoSmithKline, which markets a different dose called Treximet. Treximet was approved in 2008.
Migraine attacks are typically characterized by a sharp, pulsating pain on one side of the head, nausea and extreme sensitivity to light and sound and can last 4 hours to 72 hours.
Company shares rose 3 percent, or 14 cents, to $4.89.
Posted: March 2011