ARNHEM, the Netherlands - Akzo Nobel plans to create two independent companies, Coatings/Chemicals and Pharmaceuticals, with an intended minority initial public offering of its Pharmaceuticals business to be called Organon Biosciences. Timing depends on important developments within Organon Biosciences' pipeline, which are expected in the second half of 2006. Full separation of Organon Biosciences is expected within two to three years after the IPO.