Executive Summary

CNS drug development and co-marketing agreement, announced by Squibb May 2, expands relationship between the firms beyond insulin to central nervous system disease therapies for depression, anxiety and psychosis. The deal was signed in first quarter and announced by Squibb at its annual meeting. In depression area, Novo-Nordisk has been working on dopamine reuptake inhibitors. GBR-12909 is currently in Phase II clinicals in Europe. Other CNS compounds are: FD- 10571, a non-benzodiazapine anxiolytic; FG-8119, a partial benzodiazapine receptor agonist; and fexometine,a 5-HT reuptake inhibitor with antidepressant properties.