This week's decision by the US Food and Drug Administration to approve the use of aducanumab or Aduhelm to treat patients with Alzheimer's disease may be an inflection point in the race to find a cure for dementia.
Aduhelm is reported to tackle the progressive degenerative disease of the brain by reducing deposits of amyloid plaque that impair memory once they begin to build up. Other previously licensed inhibitor drugs only seek to slow down cognitive decline rather than address the disease head on, which is why there is so much interest in this new treatment.
Biogen, the company developing the drug, says the treatment will answer a significant unmet need for those diagnosed with the disease, although critics argue its performance was mixed during late-stage trials.
If it lives up to its billing, however, the drug will bring hope to an arena where traditionally there has been next to none.
The FDA’s decision, however, also represents an apparent U-turn from the body’s previous pronouncement on the progress of the drug in November 2020.
Last year, the FDA's Peripheral and Central Nervous System Drugs Advisory Committee voted on the question of whether there was strong evidence to support the effectiveness of aducanumab in treating Alzheimer's. Eight members of the committee voted no, two were uncertain and one member said yes.
This may explain why this week’s statement on the approval acknowledged the question marks around the drug’s effectiveness.
Hope and possibility is always better than despair and inaction
In a memo released on Monday, Dr Patrizia Cavazzoni, director of the FDA Centre for Drug Evaluation and Research, concluded that the data provided for approval was "highly complex and left residual uncertainties regarding clinical benefit" and said it was unsurprised that there was so much attention on the approval.
Dr Cavazzoni went on to say that the FDA had determined that the drug would be given its accelerated approval path, which gives access to “potentially valuable therapies for patients with serious diseases where there is an unmet need and where there is an expectation of clinical benefit despite some residual uncertainty.”
Whatever way you look at it, this is a volte-face from the apparent hard-no delivered in November. Ultimately, the FDA decided the potential benefits exceed the risks.
Some of the reasons why this decision has been applauded by carers and families of those diagnosed with dementia is grounded in the belief that trying some form of treatment, even if it proves unsuccessful, is preferable to doing nothing. Hope and possibility is always better than despair and inaction.
In that respect, the accelerated approval of Aduhelm may yet be seen as a moon shot, although the real destination point must be to establish what triggers the amyloid plaques and to see if they can be identified and reversed at an earlier stage.
The unstated gamble in the Aduhelm accelerated approval is that it will turbocharge that space for dementia research or, indeed, Biogen’s drug may turn out to fully answer those unmet needs by overcoming those residual question marks. The lost cause of dementia may just have found a patron.
All this hope comes with a heavy price tag.
Infusions of Aduhelm will cost around $4,000 a month or $56,000 a year (Dh205,500) and with no certainty that the drug will work or that health insurers or healthcare providers would support the treatment. Patients would also have to pay for regular brain scans, which are rarely cheap.
No wonder it has been described as a blockbuster drug for Biogen, but it may yet break the banks of hopeful families if it is widely adopted. Indeed, it is of a similar price to residential care costs for someone diagnosed with dementia, so while there may be considerable emotional comfort in pursuing treatment there is little economic benefit when weighed against nursing home charges.
Governments too have borne enormous financial costs to keep societies at home or on furlough during the coronavirus pandemic, but will they be willing to pay such bills to meet dementia prevention, cure and treatment needs for a significant portion of their populations? History tells us, probably not.
By contrast, Aricept, which is one of the inhibitor drugs that seeks to slow not stop progression of the disease, costs around $350 a month or $4,200 a year (Dh15,500), but only helps in the early stages of Alzheimer’s and in some cases has not been effective at all. The window of usefulness can, and often does, snap shut very quickly and, in any case, the side effects can make it hard to use for very long.
This is not to present a field of bad choices, because Aduhelm’s accelerated approval is undoubtedly significant and, equally, inhibitor drugs, such as Aricept, have proven valuable by delaying decline in many people.
Last month, Alzheimer’s Disease International published a report on global progress to meet World Health Organisation targets to develop national dementia plans by 2025. ADI estimates that 50 million people live with dementia today. That figure could rise to more than 150 million people by 2050. A new case of dementia is diagnosed every three seconds of every day, somewhere in the world. The report concludes that we are underprepared for an advancing dementia crisis, which makes Aduhelm’s approval all the more timely.
The ADI says the pandemic has given us insight into what happens when the world is unprepared for a health crisis. More than 3.7m people have died since the coronavirus crisis began. Estimates also suggest a significant portion of those deaths were among people diagnosed with dementia. The emotional heartache and societal complications delivered by the pandemic in general are almost immeasurable.
The next few years will tell us whether Aduhelm is a genuine turning point or merely another marker on the long and never-ending road to beat Alzheimer’s. Let’s hope it is a watershed. Don’t be surprised if it is not.
Nick March is an assistant editor-in-chief at The National
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.
You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.
You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.
Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
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New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
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