$4 Trillion in Cost Savings to U.S. From New Disease-Modifying Alzheimer's Treatments
Study Supported by Educational Grant From Myriad
Salt Lake City, UT, May 15, 2007—Myriad Genetics, Inc. (NASDAQ:
MYGN) reported today that a new study
has estimated the potential savings to the United States healthcare
system, from a disease-modifying Alzheimer's drug, at up to $4.0
trillion. These savings would be for new cases arising between 2010,
when the first such drug is estimated by the authors to be available,
and 2050, when the number of Alzheimer's disease sufferers could
reach its peak.
The study authors note that Alzheimer's disease threatens to become a
pandemic and could potentially bankrupt the United States Healthcare
system, without new diseases-modifying drugs. The U.S. disease
prevalence is expected to grow from the estimated 5.1 million people
living with the disease today, to more than 7.7 million by 2030, and
16 million by 2050, which is more than the current total population
of New York City, Los Angeles, Chicago and Houston combined.
"These estimates give us the first true glimpse of the potential
impact a drug like Myriad's Flurizan could have on the rapidly
accelerating costs of treating Alzheimer's disease in this country",
said Adrian Hobden, Ph.D., President of Myriad Pharmaceuticals, Inc.
"This study calculates the dollar value of a year of life saved from
Alzheimer's disease and provides a realistic measure against which
payors might make coverage decisions for new therapeutics. The
potential savings to the system of delaying the disease for just one
year is tremendous."
The study, entitled "Alzheimer's Disease and Cost-Effective Analyses:
Ensuring Good Value for Money?" was performed by John Vernon, Ph.D.,
Department of Finance, University of Connecticut, and National Bureau
of Economic Research and colleagues at the University of Connecticut,
as well Robert Goldberg, Ph.D., from The Center for Medicine in the
Public Interest. The study was sponsored in part by ACT_AD, a
coalition of 49 national organizations representing patients,
caregivers, providers, consumers, older Americans, researchers and
employers seeking to accelerate development of potential cures and
treatments for Alzheimer's disease. The coalition is supported in
part through educational grants from Wyeth Pharmaceuticals, Elan
Corporation and Myriad Genetics, Inc.
Alzheimer's Disease Facts
- 5.1 million Americans currently have Alzheimer's disease
- As a result of the aging U.S. population, the number of newly
diagnosed cases of Alzheimer's disease is projected to double to 959,000
cases per year between 2010 and 2050
- By 2050, the number of Americans living with Alzheimer's disease is
expected to more than triple to 16 million, without new therapies
- Medicare costs alone for Alzheimer's disease will reach $160 billion
by 2010
- Families who hire in-home caregivers face annual costs of up to
$200,000
Myriad Genetics, Inc. is a biopharmaceutical company focused on the
development of novel healthcare products. The Company develops and
markets predictive medicine products, and is developing and intends to
market therapeutic products. Myriad's news and other information are
available on the Company's Web site at www.myriad.com.
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include those related to the
potential for the potential impact a drug like Myriad's Flurizan
could have on the rapidly accelerating costs of treating Alzheimer's
disease in this country. These risks and uncertainties include, but
are not limited to, our inability to further identify, develop and
achieve commercial success for new products and technologies; our
ability to discover drugs that are safer and more efficacious than
our competitors; our ability to develop molecular diagnostic products
that help assess which patients are subject to greater risk of
developing diseases and who would therefore benefit from new
preventive therapies; the possibility of delays in the research and
development necessary to select drug development candidates and
delays in clinical trials; the risk that clinical trials may not
result in marketable products; the risk that we may be unable to
successfully finance and secure regulatory approval of and market our
drug candidates, or that clinical trials will be completed on the
timelines we have estimated; uncertainties about our ability to
obtain new corporate collaborations and acquire new technologies on
satisfactory terms, if at all; the development of competing products
and services; our ability to protect our proprietary technologies;
patent-infringement claims; risks of new, changing and competitive
technologies and regulations in the United States and
internationally; and other factors discussed under the heading "Risk
Factors" contained in Item 1A in our Annual Report on Form 10-K for
the year ended June 30, 2006, which has been filed with the
Securities and Exchange Commission, as well as any updates to those
risk factors filed from time to time in our Quarterly Reports on Form
10-Q or Current Reports on Form 8-K. All information in this press
release is as of the date of the release, and Myriad undertakes no
duty to update this information unless required by law.
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