Solvay, Lundbeck shares tumble on news of psychosis drug delay

Shares in Belgium's Solvay and Denmark's Lundbeck tumbled in overnight trading after the two companies announced a delay in the launch of their psychosis drug bifeprunox. Solvay said that it would proceed with a US application for the drug in mid-2006 with its development partner Wyeth, but added that additional late-stage trials would be needed to satisfy European regulators. A European application is now expected in 2008.

- see this press release