A $25 million milestone payment from AstraZeneca lifted Pozen (Nasdaq: POZN) to profitability for the last quarter of 2010 as well as the year, the company reported Wednesday.

AstraZeneca paid Pozen in December when their co-developed pain reliever Vimovo received regulatory approval for sale in the European Union. The drug won U.S. FDA approval last April.

Pozen also received a $733,000 federal grant in the fourth quarter under a program to help companies recover costs of drug development.

For the fourth quarter, Pozen reported $29 million in overall revenue and net income of $18.4 million or 61 cents per share. Pozen lost $5.8 million in the same quarter a year earlier.

Revenues of $68.5 million for the year were more than double the $32.2 million reported for 2009. Pozen’s net income rose to $23.1 million, or 76 cents per share, compared to a loss of $6.9 million in 2009.

For more about the financial report, read here.

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