MDD Drug Dropped by AstraZeneca, Targacept After Phase III Failures

AstraZeneca (AZ) and Targacept are pulling the plug on their investigational drug for major depressive disorder (MDD), TC-5214, after two more Phase III trials came up short. AZ will accept an impairment charge of $50 million on the failure of the program, which produced a string of missed endpoints starting with the first Phase III efficacy/tolerability trial.
Washington Drug Letter