Pozen and partner GlaxoSmithKline announced late this
evening that the U.S. Food and Drug Administration (FDA)
has approved Treximet for the acute treatment of migraine
attacks with or without aura in adults.
The news was as expected and results in a $20 million
milestone from Glaxo ($10 million for approval and $10
million for the launch) to be recorded by Pozen in the second
quarter of 2008. This should lead to profitability in the
second quarter.
We are maintaining our Buy rating and $18 near-term price
target on the shares. We are buyers on this positive news.
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$13.5 (04/17/08)
