Pozen announces sale of U.S. Vimovo rights
CHAPEL HILL – Chapel Hill-based drug developer Pozen announced Tuesday that Horizon Pharma USA will acquire the U.S. rights to Vimovo, a pain treatment for osteoarthritis.
Under the terms of the agreement between AstraZeneca AB and Horizon Pharma, Pozen will receive a 10 percent royalty on the drug’s net sales in the United States.
At a minimum, the company will get a guaranteed minimum royalty payment of $5 million next year, and $7.5 million each year after that, provided that the patents for the drug are in effect and there is no generic competition on the market.
Horizon is also taking on AstraZeneca’s right to lead the on-going litigation for Vimovo and will assume all patent-related defense costs.
“We are very pleased that Horizon will take over the sales and marketing of Vimovo in the United States,” said John R. Plachetka, Pozen’s chairman, president and CEO, in a prepared statement.
AstraZeneca will still to have rights to commercialize Vimovo outside of the United States.
RTI gets additional grant in Gates Foundation toilet challenge
DURHAM – The Durham-based research institute RTI International has received additional grants from the Bill and Melinda Gates Foundation for work on a competitive toilet development project.
The foundation’s “Reinvent the Toilet” competition challenged developers to come up with a toilet that for the developing world. RTI is working on an off-grid toilet that can convert human waste into burnable fuel, stored energy and disinfected, non-potable water through a new biomass conversion unit, according to a news release.
The additional grants awarded to RTI will speed the development of its toilet system, they’ll allow for testing using human waste, and will help the nonprofit develop a full prototype working with the toilet manufacturer Roca, according to a news release.
RTI is one of 16 that have received grants through the foundation’s “Reinvent the Toilet Challenge.” The competition aims to further the development of a toilet that could be used in developing nations.
The nonprofit has about 15 people working on the project. In addition, it has collaborators working on the project from Duke University, Colorado State University, NASA’s Ames Research Center and the U.S. Naval Research Laboratory.