Eli Lilly to stop developing schizophrenia drug

Aug 29 (Reuters) - Eli Lilly and Co said it would stop developing an experimental schizophrenia drug after a recent analysis showed that a late-stage trial on the drug was likely to fail.

Lilly said that an independent futility analysis concluded the second late-stage study on the drug was unlikely to meet the main goal of the trial.

Additionally, another mid-stage trial, which was testing the drug -- pomaglumetad methionil, or mGlu2/3 -- as an adjunctive treatment with atypical antipsychotics, also failed to meet the main study goal.