Eli Lilly halts Phase III development of schizophrenia drug

Rebecca Aris

pharmaphorum

Eli Lilly yesterday announced the decision to stop ongoing clinical studies investigating pomaglumetad methionil, for the treatment of patients with schizophrenia.

The decision was reached after a recent analysis showed that a late-stage trial on the drug was unlikely to be positive in its primary efficacy endpoint.

In addition, a recently completed Phase II study, which investigated pomaglumetad methionil as an adjunctive treatment with atypical antipsychotics, did not meet its primary endpoint.

"I'm disappointed in what these results mean for patients with schizophrenia who still are searching for options to treat this terrible illness. While there are many challenges in this complex field of research, neuroscience remains a core area of focus at Lilly. Our clinical development pipeline includes nearly a dozen neuroscience molecules being studied to treat illnesses such as depression, bipolar disorder and cognitive impairment associated with schizophrenia."

Jan Lundberg, Ph.D., executive vice president, science and technology, and president, Lilly Research Laboratories.

This decision to cease ongoing Phase III development of the schizophrenia treatment is expected to result in a third-quarter charge to R&amp,D expense in the range of $25 million to $30 million (pre-tax), or approximately $0.02 per share (after-tax).