2nd Aug 2006 07:03
AstraZeneca PLC02 August 2006 AstraZeneca and Pozen Inc Sign Deal to Develop and Commercialise naproxen and esomeprazole Fixed Dose Combinations utilising Pozen's Proprietary Technology for the Treatment of Chronic Pain AstraZeneca today announced an exclusive global agreement with Pozen Inc.(NASDAQ: POZN) to co-develop fixed dose combinations of naproxen andesomeprazole for chronic pain, utilising Pozen's proprietary formulationtechnology. The fixed dose combinations have the potential to provide chronicpain sufferers with a new treatment with good efficacy and a low uppergastro-intestinal (GI) side-effect profile. Under the terms of the agreement, AstraZeneca will pay Pozen an upfront feetotaling $40 million with potential aggregate milestone payments of $160 millionfor certain development and regulatory milestones; and $175 million of potentialsales performance milestones, if certain thresholds are achieved. Royaltieswill be paid on net sales on a tiered royalty structure that ranges frommid-single digits to mid-teens. The development programme will be co-funded, with Pozen responsible for the USdevelopment programme and for regulatory filings in the US. Phase III clinicaldevelopment is expected to start in 2007, with a US submission currentlytargeted for the end of 2008. AstraZeneca will have full responsibility for alldevelopment activities outside of the US as well as all aspects ofmanufacturing, marketing, sales and distribution on a worldwide basis.AstraZeneca will also be responsible for all non-U.S. regulatory filings. Bothparties will contribute scientific, development and regulatory expertise to thecollaboration. The patent expires in 2023 in the United States. "This collaboration is further evidence of the progress we are making instrengthening our pipeline of new products," said Dr. John Patterson, ExecutiveDirector, Development, for AstraZeneca. "We believe that the combination ofesomeprazole and Pozen's proprietary PN technology has the potential to addressone of the key unmet medical needs for patients with chronic pain; namely, goodpain relief coupled to a low risk of gastrointestinal ulcers and goodtolerability." John R. Plachetka, Pharm.D., Pozen's Chairman, President and Chief ExecutiveOfficer said, "One of our goals in developing our PN technology has been tocollaborate with a large pharma company that has the commercial resourcesnecessary to drive products based on PN technology into a leadership positionamongst all NSAID products. AstraZeneca has consistently shown that it is oneof the best pharmaceutical companies in the world, and we are especially pleasedto be utilizing esomeprazole in this product." The collaboration is subject to clearance under the Hart-Scott-Rodino AntitrustImprovements Act. No further financial terms have been disclosed. -Ends- 2 August, 2006 Contacts: AstraZeneca: Media Enquiries:Steve Brown (London) +44 (0) 20 7304 5033Edel McCaffrey (London) +44 (0) 20 7304 5034 Analyst/Investor Enquiries: Jonathan Hunt (London) +44 (0) 20 7304 5087Mina Blair (London) +44 (0) 20 7304 5084Ed Seage (US) +1 302 886 4065Jorgen Winroth (US) +1 212 579 0506 Note to News Editors: About AstraZeneca AstraZeneca is a major international healthcare business engaged in research,development, manufacturing and marketing of prescription pharmaceuticals andsupplier for healthcare services. AstraZeneca is one of the world's leadingpharmaceutical companies with healthcare sales of US $23.95 billion and is aleader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncologyand infection product sales. AstraZeneca is listed in the Dow JonesSustainability Index (Global) as well as the FTSE4Good Index. About Pozen Inc POZEN (Nasdaq: POZN) is a pharmaceutical company committed to developingtherapeutic advancements for diseases with unmet medical needs where it canimprove efficacy, safety, and/or patient convenience. Since its inception, Pozenhas focused its efforts primarily on the development of pharmaceutical productsfor the treatment of acute and chronic pain and other pain related conditions.The company's common stock is traded on The Nasdaq Stock Market under the symbol"POZN". For detailed company information, including copies of this and otherpress releases, see Pozen's website: http://www.pozen.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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