Chapel Hill drug maker Pozen announced this morning that the Food and Drug Administration has accepted its application to market an experimental treatment for arthritis.
The FDA move signals that the drug, called Vimovo, could win regulatory approval by March, if it doesn't run into snags. The drug would be Pozen's second approved product, with the migraine drug Treximet.
News of the FDA acceptance of Vimovo's application also triggers a $10 million milestone payment to Pozen from partner AstraZeneca, which has licensed the marketing rights to the drug.
Pozen's shares rose 26 cents to close at $6.73 today.