Lilly depression drug fails in late-stage testing

INDIANAPOLIS (AP) — Eli Lilly said Thursday its depression drug edivoxetine failed in late-stage clinical testing, and it doesn’t plan to file for marketing approval of the drug.

The company said that in three clinical trials, edivoxetine did not work better than a placebo for patients who were already being treated with a selective serotonin reuptake inhibitor.

As a result of its decision against seeking marketing approval for the drug, Eli Lilly said it will take a one-time charge of $15 million, or a penny per share, in the fourth quarter.

Shares of Eli Lilly and Co. rose 17 cents to $50.04 in morning trading. Its shares have risen about 1 percent so far this year. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, racial slurs or consistent name calling will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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