Akzo Nobel will not launch its pharmaceutical subsidiary Organon on the stock exchange this year, the Financieele Dagblad reports. ‘Financial world sources’ have told the paper that preparations are not advanced enough for a pre-Christmas flotation.
An Akzo Nobel spokesman told the paper that nothing had changed since the company’s September press release which stated that Organon would be floated by the beginning of 2007 at the latest.
Delays in the development of the company’s high-profile schizophrenia medication, Asenapine, in October had not affected the IPO decision either, he said.
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