Knobias Clip Report (09-23-2008) POZN
Submitted By Knobias ClipReport
POZN: CEO Presents at UBS Global Life Sciences Conference Today
By Fain Hughes, fhughes@knobias.com
The Chairman and CEO of Pozen Incorporated (POZN), John R. Plachetka, Pharm.D, presented today at the UBS Global Life Sciences Conference in New York, NY.
POZEN’s efforts are focused primarily on the development of pharmaceutical products for the treatment of acute and chronic pain and other pain-related conditions. POZEN has development and commercialization alliances with GlaxoSmithKline for Treximet(TM), which was approved by the FDA for the acute treatment of migraine attacks in adults, and with AstraZeneca for proprietary fixed dose combinations of naproxen with the proton pump inhibitor esomeprazole magnesium in a single tablet for conditions such as osteoarthritis and rheumatoid arthritis in patients who are at risk for developing NSAID-associated gastric ulcers.
In response to this need for a migraine-specific therapy that targets both neurovascular and inflammatory events, POZEN and GSK co-developed Treximet. This migraine medication works in two ways- the triptan component alters the constriction of the blood vessels, which correlates to the relief of migraine pain, while the NSAID component inhibits the enzyme responsible for the production of prostaglandins, which are the mediators of pain and inflammation, thereby enhancing the speed, effectiveness and duration of migraine symptom relief.
In May 2008, POZEN officially transferred the IND and NDA for the product to GSK. GSK is responsible for commercialization of Treximet. POZEN will receive royalties based on net sales from GSK.
Dr. Plachetka explained at the conference, “We are currently making single digit royalties on Treximet today, but beginning in 2010, we will be making high teens royalties. We are just now beginning to see the direct advertising for this product by GSK. Already it has outperformed the launch of Pfizer’s Relpax(R) by a significant amount. Treximet is taking market share from the entire space.”
He added, “Our financial position is the envy of many. We have strong fundamentals with a very efficient business model. We completed our offering in 2000 and have been self funded since that time with no dilution to our shareholders. We have been profitable in two of the last three years and have a very strong cash balance. We do all of this with forty employees.”
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