Eli Lilly and Company Schizophrenia Drug Fails Late-stage Trial

Eli Lilly and Co said on Wednesday its experimental schizophrenia drug known as mGlu2/3 did not work in a late stage clinical trial. The trial was intended to be the first of two late-stage tests of the drug as a stand-alone treatment in acute schizophrenia. A second trial is continuing and the company expects to conduct an interim analysis and present the results later this year. The company is also awaiting the results of a recently concluded mid-stage study examining the drug, also known as pomaglumetad methionil, as a combination treatment with existing drugs known as atypical antipsychotics.