Biovail, Acadia to continue pimavanserin program

Biovail, Acadia Pharmaceuticals continuing pimavanserin program for Parkinson's disease

• On 7:43 am EDT, Tuesday October 6, 2009

NEW YORK (AP) -- Canadian biotechnology company Biovail Corp. and Acadia Pharmaceuticals Inc. said Tuesday they will continue to develop pimavanserin as a potential Parkinson's disease treatment, despite failures in one late-stage study.

In September, the companies said pimavanserin failed to meet key goals in a study of Parkinson's disease psychosis patients. Symptoms associated with Parkinson's disease psychosis include visual hallucinations and delusions.

The drug is still in another Phase III, or late-stage, clinical trial. The companies said they will design a third late-stage study using positive secondary results from the previous study, along with data from the ongoing late-stage study.

The third study is expected to begin in the first half of 2010 and Biovail will be responsible for costs.

Meanwhile, Biovail said it plans to pursue a development program for pimavanserin as an adjunctive therapy for schizophrenia.

Biovail shares closed at $14.70 and shares of San Diego-based Acadia closed at $1.65 on Monday.