Pozen sells future royalty rights to Treximet for $75 million
USA-based Pozen (Nasdaq: POZN) has entered into an accord with Canada’s CPPIB Credit Investments (CII) to sell the company's right to receive future royalty payments arising from US sales of MT 400, including migraine drug Treximet, (sumatriptan/naproxen sodium) which incorporates the US company's MT 400 technology.
MT 400 refers to proprietary combinations of a triptan (5-HT1B/1D agonist) and a non-steroidal anti-inflammatory drug. Under the Agreement, Pozen received a purchase price of $75 million and will receive a 20% interest in any royalties received by CII relating to the period commencing on April 1, 2018. The agreement also grants CII the right to receive certain reports relating to the royalty entitlement, and certain audit rights relating to the royalty entitlement.
Drug sold in USA by GlaxoSmithKline
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