Lilly dustbins edivoxetine depression indication

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Eli Lilly's Phase III test of edivoxetine for major depressive disorder is a fail. The company announced Thursday that the drug failed to surpass placebo when paired with a selective serotonin reuptake inhibitor (SSRI).

The company is dustbinning this indication, but ISI Group analyst Mark Schoenebaum wrote in his news assessment that Lilly may put the drug into the roster of possible ADHD therapies. Regardless, Schoenebaum writes Lilly's news won't upset Wall Street's opinion of the company. “Investors haven't exactly been optimistic that these Phase III trials would work, so today's news is not entirely surprising,” he writes.

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