LONDON (AP) - Drug makers AstraZeneca and Targacept say they have abandoned plans to seek regulatory approval for a drug intended to treat major depressive disorder.
AstraZeneca PLC said that the drug TC-5214 did not perform as hoped in an eight-week trial compared to a placebo.
AstraZeneca says it will take an impairment charge of $50 million as a result.
London-based AstraZeneca and Targacept Inc., based in Winston-Salem, North Carolina, signed a collaboration agreement to develop the drug in 2009.
Date: March 20, 2012
Source: Associated Press
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