Eisai claims right to pull out of AD Pfizer accord

Japanese drugmaker Eisai is seeking to pull out of an Alzheimer's disease accord with Pfizer, claiming that when the world drug giant  completes its purchase of Wyeth it has the right to end their agreement,  which was established in 1994 (Marketletters passim).

In late January, Pfizer made a $68.0-billion bid for the US drug major  and expects the deal to complete by the end of the year. Eisai has not  stated how the Wyeth deal will give it the right to dissolve its accord  with Pfizer but one of the main assets under threat is Aricept  (donepezil), which is approved for the treatment of all stages of  Alzheimer's disease. Last year, their co-developed second-generation  acetylcholinesterase inhibitor earned $482.0 million. Wyeth, meantime,  is devloping novel AZ drugs, including bapineuzumab. New York,  USA-based Pfizer, which is the world's largest R&D-based drugmaker by  sales, said Eisai has no right to end the alliance and will oppose any  such move.