2023 Pharma’s Greatest Hits: Weight Loss Drugs to Alzheimer’s Treatments and Gene Editing

2023-pharmas-greatest-hits-weight-loss-drugs-to-alzheimers-treatments-and-gene-editing

As the year comes to an end, pharmaceutical companies accomplished a number of firsts never seen before, setting the stage for the pharmaceutical sector in 2024 and beyond. 

This year, the market for weight reduction medications became the pharmaceutical industry’s latest gold rush due to the demand for Novo Nordisk’s pricey but incredibly successful therapies along with Eli Lilly soared. Investors and patients alike realized that the advantages of the drugs went beyond what was initially intended.

Many people were also interested in Alzheimer’s disease because of the approval and introduction of the first therapy that has been shown to halt the illness’s memory-robbing course.

Additionally, last fall saw the release of the first-ever respiratory syncytial virus vaccinations in a number of regions, and last week, American regulators approved the first-ever gene-editing medication to treat sickle cell disease. 

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From Pandemic Plunge to Billion-Dollar Boom in Weight Loss and Diabetes Medications

2023-pharmas-greatest-hits-weight-loss-drugs-to-alzheimers-treatments-and-gene-editing
As the year comes to an end, pharmaceutical companies accomplished a number of firsts never seen before, setting the stage for the pharmaceutical sector in 2024 and beyond.

The greatest losers of this year were Covid vaccinations and treatments, whose demand fell to all-time lows as the number of cases and public anxiety about the virus declined from their epidemic high. Wall Street shifted its focus to the advancements in weight loss medications and other treatments when those items became a huge burden on the sector for the first time.

This was altered by more recent obesity and diabetic medications like Mounjaro from Eli Lilly and Wegovy and Ozempic from Novo Nordisk, which brought billions of dollars to the pharmaceutical business and thrust the manufacturers to the forefront.

Currently, some analysts project that the market for diabetes and weight reduction medications might reach $100 billion by 2030. 

FDA Approves Historic Alzheimer’s Medication, Leqembi, Offering Hope to Millions

This year, the Food and Drug Administration approved the first medication that was discovered to halt the advancement of Alzheimer’s disease, which is a historic milestone for the 6 million older Americans who suffer from the debilitating illness. 

The medication is produced by Japanese pharmaceutical company Eisai and is marketed as Leqembi and its associate Biogen.

As soon as the treatment was approved, Medicare began to fund it, subject to certain restrictions, which was a critical step toward accessibility. Eisai has set the annual cost of Leqembi at $26,500 before insurance.

Leqembi is an intravenous infusion given twice a month at specialized treatment centers. The medicine targets a brain protein linked to Alzheimer’s disease; nevertheless, it is not a cure.

 

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