Pfizer has decided to drop out of its collaboration with Organon to develop asenapine for schizophrenia and bipolar disease after completing a review of the compound and its place in the pharma giant's "overall portfolio." Last October researchers issued interim Phase III data that suggested they may not have enough evidence to back an NDA. Organon says it will push ahead on its own for now, and may look for another partner to complete work on the drug. In the meantime, Organon parent company Akzo Nobel says the move by Pfizer to drop out of the program will not alter a planned stock flotation for Organon. Pfizer is returning all intellectual property rights and data to Organon as part of an "orderly" transfer on asenapine.
- check out Pfizer's brief release on the split
- see Organon's press release
- here's the AFX report on Pfizer's move