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AstraZeneca Collaboration

POZEN entered into a collaboration agreement with AstraZeneca on August 1, 2006 for the co-development and commercialization of proprietary fixed dose combinations of the proton pump inhibitor (PPI) esomeprazole magnesium, with the non-steroidal anti-inflammatory drug (NSAID) naproxen, in a single tablet. This is the basis for the PN 400 program. The products will be indicated for the relief of the signs and symptoms associated with conditions such as osteoarthritis and rheumatoid arthritis in patients who are at risk for developing NSAID-associated gastric ulcers.  In September 2007, POZEN and AstraZeneca amended certain terms of the August 2006 collaboration agreement. AstraZeneca will pay POZEN up to $345 million, in aggregate, for the achievement of development, regulatory, and sales milestones. POZEN received $70 million, which included upfront payment and recognition of successful proof of concept, $55 million will be paid upon achievement of certain development and regulatory milestones, and $260 will be paid as sales performance milestones if certain aggregate sales thresholds are achieved. In addition, POZEN will receive royalties on net sales.

GlaxoSmithkline Collaboration

In April 2008, the successful collaboration between POZEN and GlaxoSmithKline (GSK) culminated in the approval of Treximet®. The partnership began in 2003, when GSK signed an agreement with POZEN Inc. for the development and commercialization of this combination product. The deal terms include $80 million in upfront and certain development and regulatory milestone payments and an additional $80 million in sales performance milestones based on achievement of certain sales thresholds. Additionally, POZEN will receive royalties based on net sales. Treximet is available in U.S. pharmacies.