Local Tech Wire

CHAPEL HILL, N.C. – The Food and Drug Administration’s approval of a new pain reliever triggered a $20 million payday for (Nasdaq: POZN) on Tuesday. And another $25 million could be coming in the near future.

Pozen said Tuesday it had received a $20 million payment from its drug development partner AstraZeneca following FDA approval of Vimovo on April 30.

AstraZeneca will pay Pozen another $25 million should Vimovo be approved for sale in Europe.

Vimovo is an arthritis drug that combines a painkiller with an ulcer medication. It is for use in arthritis patients who are at risk of developing gastric ulcers.

The drug, developed with Pozen’s technology, combines the over-the-counter pain reliever naproxen with esomeprazole, the main ingredient in London-based AstraZeneca’s Nexium ulcer medicine. Vimovo may generate $500 million in sales in 2014, Gbola Amusa, an analyst at UBS AG in London, has said.

AstraZeneca is responsible for commercialization of the drug.

Pozen could also receive another $260 million in payments if sales performance milestones are met.

Get the latest news alerts: at Twitter.