Aim of the study was to assess the occurrence of adverse events with asenapine and iloperidone under actual practice conditions. Hundred schizophrenics of either sex, age 18 to 55 years, who were prescribed either drug for the treatment were recruited from SEP–13 to JAN–15 after written informed consent, provided patient diary and were followed up over 12 months for detecting adverse events. During personal visit, patients were interviewed by ASEQ to identify adverse events. Adverse events were compared between the two drugs using Chi–square test. Most patients reported at least 1 adverse event. Asenapine group reported more adverse events of moderate intensity (P=0.0047) with no severe event in both groups. Iloperidone group reported weight gain more frequently (P=0.0191), possibly due to concomitant mood stabilizers. Both groups reported equal frequency of rest all adverse events. In conclusion, both drugs report fairly similar frequency of adverse events in actual practice conditions.