New data reveals 1 in 85 people worldwide will suffer from Alzheimer’s disease by 2050. At a conference in Washington DC drug companies ranging from Glaxo (GSK) to Eli Lilly (LLY) are presenting data on their new drugs to combat this devastating disease. Early word suggests a new drug from Medivation (MDVN) is showing promise in trials.
CNBC Pharmaceutical Reporter Mike Huckman joins the guys for this conversation.
Mike says a trio of biotech stocks moved on the data coming out of the conference. MDVN is testing an anti-histamine from Russia on Alzheimer’s patients and early results suggest the drug might stabilize and perhaps improve the mental acuity of patients.
He adds Neurochem (NRMX) and Myriad Genetics (MYGN) also moved on their Alzheimer’s treatments.
Mike also says Wyeth (WYE) is leading the pack with almost a dozen Alzheimer’s drug in clinical trials right now. Also, he says Eli Lily (LLY) announced some positive test results.
Pete Najarian says he loves Myriad Genetics for its pipeline.
On a different note, Mike explains that on Wednesday an FDA advisory committee will meet to discuss a weight loss drug from Sanofi-Aventis (SNY) which works on the same receptors in the brain stimulated by marijuana.
Jeff Macke expects companies to pour billions into weight loss and Alzheimer’s research because it’s a boomer problem - and one that’s not going away.
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Trader disclosure: On June 11 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Najarian Owns (MNKD), (AAPL), (VSE), (ELN), (MYGN), (TXN) Bolling Owns Sugar, (BP); Bolling Is Short S&P And Nasaq Futures; Bolling Has Closed Out Of His Coffee Trade
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