Jul 28, 2011 (BUSINESS WIRE) -- POZEN Inc. /quotes/zigman/84208/quotes/nls/pozn POZN -1.10% , a pharmaceutical company committed to transforming medicine that transforms lives, today announced results for the second quarter ended June 30, 2011. Corporate Highlights -- The PA32540 Phase 3 pivotal studies are expected to be fully enrolled this quarter as planned. The primary endpoint in both studies is the cumulative incidence of gastric ulcers following administration of either PA32540 or 325 mg enteric-coated aspirin in subjects at risk for developing aspirin-associated ulcers. Completion of the 6-month studies is anticipated in Q1 2012 and the New Drug Application (NDA) filing is targeted for Q3 2012.
-- The long term safety study, a 12-month, Phase 3 study to evaluate the long-term safety of PA32540 in subjects who are at risk for developing aspirin-associated gastric ulcers has been completed. We are in the process of reviewing the data. -- POZEN announced the appointment of Dr. Tomas Bocanegra as Executive Vice President, Development and the addition of Dr. Martin Nicklasson and Dr. Seth Rudnick to the Board of Directors. -- First half net sales of Treximet(R) (sumatriptan / naproxen sodium) are up 3.5% year over year. -- First half sales of VIMOVO(TM) (naproxen / esomeprazole magnesium) delayed-rele
ase tablets were $10.1 million; $6.3 million in Q2 2011. -- VIMOVO was launched in 5 additional European countries in the second quarter of 2011. Second Quarter Results For the second quarter of 2011, POZEN reported revenue of $4.6 million, comprised of royalty on sales of Treximet and VIMOVO, of $4.0 million and $0.6 million, respectively. For the second quarter of 2010, the Company reported total revenue of $28.2 million, resulting from the amortization of upfront payments received pursuant to the collaboration agreement with AstraZeneca of $4.1 million, and royalty of $4.1 million on sales of Treximet, and the $20.0 million milestone payment from AstraZeneca resulting from the U.S. Food and Drug Administration (FDA) approval of VIMOVO.
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