BMS drops depression compound from Albany Molecular

Albany Molecular Research Inc. (NASDAQ:AMRI) disclosed in an SEC filing that partner Bristol-Myers Squibb Co. (NYSE:BMY) discontinued development of BMS-820836 after the compound missed the primary endpoint in a pair of Phase IIb trials in treatment-resistant depression. BMS-820836 -- a serotonin, norepinephrine and dopamine reuptake inhibitor (SNDRI) -- did not show superiority over duloxetine and escitalopram in the trials.

Albany Molecular was down $1.29 (10%) to $11.31 on Monday. The company said it plans to discuss the development of other compounds covered under the 2005 deal with Bristol-Myers, but could not be reached for details. ...