Press Release

PhRMA Statement on Medical Innovation

PhRMA October 13, 2010

Washington, D.C. (November 4, 2010) – Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Wes Metheny issued the following statement today regarding the Cleveland Clinic’s Top 10 Medical Innovations for 2011:

“The Cleveland Clinic’s list of the top medical innovations presents an important reminder that despite recent economic challenges, the commitment to development of groundbreaking new therapies remains strong.

“The highlighted innovations – which reach across the healthcare spectrum, from diagnostics to biopharmaceuticals and from weight loss to cancer – have the potential to significantly change the healthcare system in America. They offer the hope for increased survivability, improved quality of life, and lower overall costs.

“For example, Cleveland Clinic commended the development of an imaging agent to facilitate diagnosis of ***Alzheimer’s disease***. The ability to identify this debilitating condition earlier in disease progression could make it possible to begin treatment earlier, potentially delaying onset in patients, improving their quality of life and ultimately leading to health savings. One recent study found that after three years, 11 percent of ***Alzheimer’s*** patients receiving treatment would be placed in a nursing home, compared to 50 percent of untreated patients. Not only would this avoid the costly nursing home care, it would keep patients with their families and in less need of intensive care. Importantly, there is also promise on the horizon for treating ***Alzheimer’s*** disease patients, with 98 new medicines currently being developed for ***Alzheimer’s*** and other dementias.

“Medical innovation requires significant investment in time and resources. More importantly, it requires commitment and determination. It is a challenge, but the Cleveland Clinical Top 10 Medical Innovations list demonstrates the remarkable advances that can be achieved.”

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.

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