Another Biotech Winner: Pozen has Just Got Vimovo Approved

Well they just got a new drug called Vimovo approved and the stock has taken off after hours. What was interesting is the news was preceded by a drop in the stock that took it down as low as $5. I think someone was making investment decisions based on incomplete information. My thinking is that the FDA didn't rule by a certain specified time and this spooked investors into panic selling. In any case this is yet another big Biotech winner.

Vimovo is a fixed-dose combination of the anti-inflammatory drug naproxen and an immediate release version of esomeprazole, the active ingredient in AstraZeneca's acid reflux treatment Nexium.

Shares of Pozen were up more than 21 percent, or about $2.30, in after-hours trading on Friday, trading at $13.15, after earlier closing at $10.85. (Reporting by Susan Heavey; additional reporting by Ben Hirschler in London and Vidya Loganathan in Bangalore; editing by Carol Bishopric)