Pozen shares slide as gastric ulcer collaboration with Sanofi ends

French drug major Sanofi (EURONEXT: SAN) and North Carolina-based pharma company Pozen (Nasdaq: POZN) have agreed to end their collaboration on commercializing experimental gastric ulcer therapies PA8140 and PA32540, both of which combine omeprazole an aspirin.

Any license granted to Sanofi for the products reverted back to Pozen from November 29, and shares in Pozen took a downturn of up to 17% in the wake of the announcement.

Pozen said in July that the US Food and Drug Administration accepted a resubmitted marketing application for the two therapies for review, with a target review date of December 30. PA8140, which combines omeprazole 40mg with 81mg of aspirin, and PA32540, which combines omeprazole 40mg with 325mg of aspirin, are being developed for the secondary prevention of cardiovascular disease in patients at risk for aspirin-induced gastric ulcers.