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news.Pfizer has discontinued its collaboration with chemicals and pharmaceutical company Akzo Nobel for the development of asenapine, a new drug candidate for the treatment of schizophrenia and acute mania associated with bipolar disorder.
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Pfizer said the decision to discontinue its participation in the asenapine development program is an outcome of a commercial analysis of the compound as a part of its overall portfolio. Pfizer will return all product rights, intellectual property and data to Akzo's drug unit, Organon Biosciences, and make orderly transitions during 2007.
Organon will continue to develop asenapine and the drugs final testing results are expected by May 2007.
The drug has been widely predicted to be a best seller but Organon said that schizophrenia treatment may be delayed as a result of Pfizer's decision.
Akzo Nobel is currently planning to sell part of the Organon Biosciences unit. Akzo said that it remained “fully committed” to the initial public offering of Organon.