The Food and Drug Administration has approved Lilly's drug Reconcile to treat the estimated 10.7 million, or 17 percent, of U.S. dogs that have separation anxiety. According to a company release, dogs that exhibit separation anxiety are prone to "destruction, excess vocalization and inappropriate elimination."

Reconcile is part of a class of antidepressants known as selective serotonin reuptake inhibitors frequently marketed to humans. Lilly's blockbuster depression drug Prozac is one member of the class.

According to Lilly, 73 percent of dogs treated with the Reconcile showed improved behavior when separated from their owners compared with dogs receiving training alone.

Shares of Eli Lilly & Co. shed 13 cents to $59.15 in morning trading on the New York Stock Exchange.