Local Tech Wire

CHAPEL HILL, N.C. – Pozen reported stronger second-quarter sales and profit, boosted by its drugs to treat headaches and arthritis, the company announced on Tuesday.

The Chapel Hill company received a $20 million payment from larger partner AstraZeneca after its Vimovo arthritis drug received regulatory approval April 30. That payment, plus royalties from sales of Treximet, attributed to the boost in quarterly results.

Pozen reported revenue of $28.2 million, a big surge from $4.9 million a year earlier, for the three-month period that ended June 30. Net income rose to $16.2 million.

Pozen now must prove it can successfully develop other drugs. The company said researchers are currently testing a new type of aspirin that won’t cause gastrointestinal problems and plans to commercialize and market that drug itself, rather than relying on larger partners.

The company expects to start late-stage clinical testing later this year.

AstraZeneca plans to begin selling the Vimovo arthritis drug later this year.

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