Lurasidone is used to treat the symptoms of schizophrenia (a mental illness that causes disturbed or unusual thinking, loss of interest in life, and strong or inappropriate emotions) in adults and children 13 years of age and older. It is also used to treat depression in adults and children 10 years of age and older with bipolar disorder (manic depressive disorder; a disease that causes episodes of depression, episodes of mania, and other abnormal moods). Lurasidone is also used along with lithium (Lithobid) or valproate (Depacon) to treat depression in adults with bipolar disorder. Lurasidone is in a class of medications called atypical antipsychotics. It works by changing the activity of certain natural substances in the brain.