Akzo To Launch Organon IPO In March
Make a commentBy Ed Silverman // February 26th, 2007 // 6:38 am
The Dutch chemical maker also reveals that it hopes to get FDA approval for a schizophrenia drug, which analysts believe could become the company’s first blockbuster medicine. Pfizer pulled out of a development deal in November, but Akzo says a new partner is being lined up.
“We had a very constructive meeting (with the FDA), we had a very helpful dialogue,” Toon Wilderbeek, an Akzo board member responsible for Organon BioSciences, told reporters on a conference call, Reuters reports.
Akzo plans to list between 20 percent and 30 percent of Organon.
[tags]Akzo Nobel, Organon[/tags]