POZEN HITS $20 MILLION GSK MILESTONE
Pozen Inc. said Tuesday the Food and Drug Administration's acceptance of a marketing application for agency review of a migraine treatment triggered a $20 million milestone payment from GlaxoSmithKline PLC. The companies submitted the application Aug. 8, and hope to have the treatment approved and on the market by the second half of 2006. Pozen booked $23.1 million in total revenue in 2004. The treatment, called Trexima, combines GlaxoSmithKline's Imitrex, which uses Pozen's RT Technology, with naproxen sodium, a nonsteroidal anti-inflammatory drug.