Teva to drop depression treatment after trial fails

Fri Aug 30, 2013 12:39pm EDT

Aug 30 (Reuters) - Generic drugmaker Teva Pharmaceutical Industries Ltd said it will stop development of a depression treatment after a late-stage trial failed to show the drug was more effective than placebo.

The study was the third late-stage study that tested Nuvigil, or armodafinil, as an adjunct therapy in adults with major depression associated with bipolar I disorder.

While the first late-stage trial had positive results, the second trial failed.

Teva said it will not proceed with regulatory filings for the drug for treating bipolar-related depression. The drug is already approved to help adults who experience excessive sleepiness.

Teva said there will be no material impact to the company. The company's US-listed shares were up slightly at $38.43 in afternoon trading.