PhRMA: Alzheimer’s drug market continues to expand
WASHINGTON Nearly 100 drugs are in development for treating Alzheimer’s disease, according to a new report by the main lobby for the pharmaceutical industry.
The Pharmaceutical Research and Manufacturers of America said 98 medicines for dementia, mostly Alzheimer’s, were in clinical trials or under review by the Food and Drug Administration.
As the number of elderly Americans increases, the number of Alzheimer’s patients is expected to more than double between now and 2050, according to the Alzheimer’s Association, and the cost of caring for them will rise to more than $1 trillion.
“In millions of American homes, Alzheimer’s disease already presents a crisis,” PhRMA president and CEO John Castellani said. “The expected increase in Alzheimer’s patients portends not only more personal pain and grief, but a national crisis.”