Eli Lilly & Co. is throwing in the towel on its best contender for a successor to its blockbuster schizophrenia therapy Zyprexa. After announcing in July that pomaglumetad methionil had failed in one Phase III trial, Lilly announced Aug. 29 that it was stopping ongoing clinical studies of the compound following a futility analysis that concluded a second Phase III effort also was doomed to failure.
Lilly anticipates the decision to stop the clinical program will result in a third-quarter charge to R&D expenses in the...
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