* Drug was not more effective than a placebo in late-stage
* Teva says trial results have no material impact on company
* Drug would have required big marketing spends - analyst
By Vrinda Manocha
Aug 30 Generic drugmaker Teva Pharmaceutical
Industries Ltd said it will stop the
development of a depression treatment after a late-stage trial
failed to show the drug was more effective than a placebo.
The third late-stage study 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 had failed.
Analysts said the drug did not present much of an
opportunity for Teva in a market where antidepressants for
bipolar disorder are already available.
"If (the trial) had worked, Teva would have had to commit a
lot of additional capital to compete in the market place," Maxim
Group analyst Jason Kolbert said.
Eli Lilly's drug Symbyax is approved for the
treatment of depression caused by bipolar disorder.
Other drugs used as adjunct therapies include AstraZeneca
Plc's Seroquel XR and GlaxoSmithKline's
Given that Nuvigil's patent would expire in 2016, the
company would have had a very short time to market the drug even
if the trial had gone well, said Morningstar analyst Michael
The drug is already approved to treat sleep disorders and
accounted for $347 million, or 2 percent, of the company's
revenue in 2012, according to a regulatory filing.
"The silver lining to Teva's failure is that the associated
marketing expenditures now are halted and therefore, Teva can
focus its capital on those priorities that represent unmet
medical needs" Kolbert said.
Teva said there will be no material impact to the company.
The company's US-listed shares were up slightly at $38.43 in