* Lilly calls schizophrenia drug study inconclusive
* Says placebo response was double usual response
* Says to continue development of drug
NEW YORK, March 29 (Reuters) - Eli Lilly and Co LLY.N said on Sunday it will initiate another mid-stage trial to study an experimental schizophrenia drug after results from its initial Phase II trial were inconclusive.
The drugmaker said inconclusive trial results are common in the field of neuroscience, and that it will continue developing the drug with an additional Phase II study.
In its study, Eli Lilly said patients given a placebo demonstrated a response that was about double that historically seen in clinical trials with patients suffering from schizophrenia.
Therefore, neither its experimental drug, known as mGlu2/3, nor its antipsychotic Zyprexa -- known to be more effective than a placebo -- performed better than the placebo.
Lilly said the experimental drug was generally well-tolerated, though three patients experienced convulsions. It also said the experimental drug had a low association with adverse events commonly associated with currently available antipsychotics, such as weight gain. (Reporting by Martinne Geller, editing by Maureen Bavdek)
Our Standards: The Thomson Reuters Trust Principles.