Pfizer Inc. will drop its research and development plans for both Alhzeimer's and Parkinson's disease.
According to Zacks, this decision will lead to the elimination of 300 neuroscience discovery and early development program positions. Similarly, Eli Lilly and Company decided in November 2016 to give up on approval for its Alzheimer's treatment solanezumab due to poor results from one of their studies. Merck also decided to halt their investigational treatment verubecestat in February 2017.
Five million Americans are currently living with Alzheimer's disease and, according to data from the Alzheimer's Association, that number is expected to triple within the next 30+ years. There are still many companies working toward Alzheimer's disease treatment, including Biogen, Novartis, AstraZeneca, Eisai, and Amgen.
You can read more on this latest development at Zacks.com.
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