Oct 2 (Reuters) - Eli Lilly and Co said it would discontinue the development of its lupus drug as the treatment was not found to be effective enough in two late-stage trials.

The decision will result in a charge of about 4-5 cents per share in the third quarter, the company said.

Lupus is a condition in which the body's immune system starts attacking healthy tissues and causes inflammation, pain, and damage.

Eli Lilly said the decision was not because of any safety concerns.

(Reporting by Vidya L Nathan in Bangalore; Editing by Kirti Pandey)