Pozen seeks FDA approval for ulcer drug

Pozen Inc. said Tuesday it asked the Food and Drug Administration to approve a drug candidate intended to prevent gastric ulcers in patients with chronic pain.

Pozen said it filed a New Drug Application with the FDA, and when the agency receives the application, Pozen will get a $10 million payment from its partner AstraZeneca PLC. The tablets contain a combination of the painkiller naproxen and esomeprazole magnesium, the active pharmaceutical ingredient in heartburn medicine Nexium. The companies proposed the drug be called Vimovo.

London-based AstraZeneca and Chapel Hill, N.C.-based Pozen have been developing the drug since 2006. It was previously designated PN400.

In afternoon trading, Pozen shares dipped 15 cents to $7.79.