Otsuka ends development of late-stage Alzheimer's asset

PonyWang/E+ via Getty Images Otsuka Pharmaceutical ( OTCPK:OTSKY ) is terminating development of a candidate for an Alzheimer's disease drug that was in phase 3 for agitation associated with dementia. In February, the Japanese drugmaker announced topline phase 3 results for AVP-786 that there was no statistically significant difference between the drug and placebo in the primary endpoint. Following a further analysis of the results, Otsuka ( OTCPK:OTSKF ) decided to drop AVP-786 , an NMDA receptor antagonist.

Otuska gained AVP-786 through its $3.5B acquisition of Avanir Pharmaceuticals in 2015. More on Otsuka Historical earnings data for Otsuka Holdings Co.

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