Jan 15 (Reuters) - AbbVie ( ABBV ) will commit "less capital" towards experimental

medicines for psychiatric disease, CEO Robert Michael said at an industry conference on

Wednesday.

The remarks come months after its experimental schizophrenia drug failed in two mid-stage

studies.

"Committing that much capital on early data, I'd say we would certainly rethink that in

psych," said CEO Michael at the JPMorgan Healthcare Conference.

Michael added that the company was disappointed by the results from the mid-stage trial

testing the experimental drug emraclidine - acquired for $8.7 billion from Cerevel Therapeutics

in 2023.

"We can commit less capital, particularly in psych, but it doesn't change our willingness to

take calculated risks," Michael added.

Emraclidine failed to help reduce schizophrenia symptom severity in trials testing it in

patients who face an acute worsening of psychotic symptoms, including hallucinations and

delusions. AbbVie ( ABBV ) said it would record a charge of about $3.5 billion related to the drug.