Pfizer and Taisho finalise schizophrenia drug agreement

Pfizer and Taisho Pharmaceutical have signed a definitive agreement to collaborate on the research, development and commercialisation of TS-032, a schizophrenia drug candidate currently in the pre-clinical stage of development.

This agreement replaces a letter of intent previously signed by the firms and will grant Pfizer exclusive development and commercialisation rights to the drug outside of Japan.

Under the terms of the deal, Pfizer will pay Taisho an initial sum of $22 million (11.1 million pounds), with further milestone payments and royalties to be paid as applicable following the approval and successful launch of the drug.

Dr Martin Mackay, president of global research and development at Pfizer, said: “We are pleased to partner with Taisho in this important area of research.

“Schizophrenia is among the most chronic and disabling of mental health conditions and there still remains a significant need for novel treatment advances with improved efficacy and fewer side effects”

He added that Pfizer has a strong track record in the development of drugs for psychiatric conditions, including its launches of Geodon, Xanax and Zoloft.

In July 2007, an analysis of 35 studies conducted by British universities revealed that cannabis users are 41 per cent more likely to experience psychosis than those who have not used the drug.