NeuroSearch finds some optimism

Following the failure of two major deals in 1999, with Bristol-Myers Squibb Co. and Pharmacia & Upjohn, the future of NeuroSearch A/S looked bleak. However, with products advancing through its pipeline and a fresh deal with Abbott Laboratories, NeuroSearch (CSE:NEUS) appears to have emerged from the doldrums.

Last spring, the breakdown of the partnership with PNU (Kalamazoo, Mich.) to develop NS2710 for anxiety caused NEUS shares to collapse by 63 percent, taking the company's market cap from DKK2.5 billion to DKK928 million ($137 million) (see BioCentury, March 8, 1999). ...