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Federal regulators have approved

Eli Lilly's

(LLY) - Get Eli Lilly and Company Report

antidepression drug Symbyax, which the company says is the first federally approved treatment for bipolar depression.

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Lilly shares were up 54 cents, or 0.7%, to $71.16 in premarket trading.

Symbyax includes ingredients from Lilly's well-known depression drug Prozac. The company did not say when Symbyax would be available to prospective users.

Bipolar depression is characterized by excessive mood swings. People suffering from the condition are more likely to attempt suicide than people suffering from other forms of depression, according to the company.