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Pfizer Drops Neurocrine Deal

Stock quotes in this article: PFE , NBIX , SNY , SEPR  

Pfizer (PFE Quote) has canceled its agreement with Neurocrine Biosciences (NBIX Quote) to develop and market the experimental insomnia drug Indiplon.

The announcement comes a week after Neurocrine said it would need to conduct additional clinical trials for a long-acting version of Indiplon and might require added studies for an immediate-release version.

Last week's news sent Neurocrine's stock reeling, and it prompted several analysts to speculate that Pfizer might walk away from the marketing and development agreement the companies signed in late 2002. ...

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