Pfizer and Organon enter collaboration

Pfizer and Organon, the pharmaceutical division of Akzo Nobel, havesigned an agreement for the latter's asenapine. The agent is an atypical antipsychotic which is beginning Phase III trials in schizophrenia and bipolar disorder.

Under the terms of the deal, the two companies will be jointly responsible for the clinical development, manufacture and co-promotion of asenapine. Pfizer will give Organon an initial payment of $100 million and up to a further $270 million on the achievement of certain milestones. No further details of the agreement were disclosed.

Hans Wijers, chief executive of Akzo Nobel, said in a statement that the deal with Pfizer illustrated Organon's new strategy which is to "seek partnerships with others that allow a combination of our innovative research with their critical mass in product development and marketing areas."