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GlaxoSmithKline and POZEN Migraine Collaboration to Proceed Following Expiration of Hart-Scott-Rodino Waiting Period

CHAPEL HILL, N.C.--(BUSINESS WIRE)--July 16, 2003--POZEN Inc. (NASDAQ: POZN), announced today the expiration of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act in connection with its agreement with GlaxoSmithKline (GSK) for the development and commercialization of proprietary combinations of a triptan (5-HT1B/1D agonist) and a long-acting non-steroidal anti-inflammatory drug (NSAID) that may improve the effectiveness of acute treatment and provide sustained pain relief for patients suffering from migraine headaches. The combinations covered by the agreement are among the combinations that POZEN has referred to as MT 400. The expiration of the waiting period triggers $25 million in initial payments to POZEN by GSK and allows the two companies to actively begin the collaboration for the clinical development and commercialization of the relevant combinations of MT 400.

POZEN is a pharmaceutical company developing therapeutic advancements in a cost effective manner. Since its inception, POZEN has developed the largest and most advanced product pipeline in the field of migraine. Product development efforts are focused on diseases with unmet medical needs where POZEN can improve efficacy, safety, and/or patient convenience. The company's common stock is traded on The NASDAQ Stock Market under the symbol "POZN". For detailed company information, see POZEN's website:

Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and FDA approval of our product candidates, resulting in, among other things, our failure to achieve milestones that would have provided us with revenue; our inability to enter into or maintain, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events, including those discussed herein and in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2003 under "Management's Discussion and Analysis of Financial Condition and Results of Operations." We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

Matt Czajkowski
Chief Financial Officer
Lisa Barthelemy
Director, Investor Relations

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