There’s been a lot of chatter about the mental health crisis since the Covid-19 pandemic. Overall, 12 mental health disorders affect 970 million people around the world â or one in eight people, according to the Institute for Health Metrics and Evaluation’s Global Burden of Disease. That can mean anything from anxiety and depression to bipolar disorder and schizophrenia. Covid has exacerbated the crisis, with 28% more people reporting anxiety and depressive disorders as a result of the pandemic in 2020 versus 2019, the organization found . Now companies are stepping up to meet those needs â from innovation in drug therapies to providing services. “Covid really put a spotlight on a lot of things, including technology and health care, and very specifically, mental health issues,” said Peter Micca, a partner and national health tech leader at consulting firm Deloitte. “Most of the investment in the early parts of Covid were around access and awareness, and benefits and programs,” he added. “There’s always been organizations focused on neuroscience issues, but the connection is even stronger now than I think anyone could imagine.” ‘Exciting’ developments Already, big pharma â which has been largely absent in neuropsychiatry innovations â is getting on board. On Dec. 6, AbbVie said it would acquire Cerevel Therapeutics for about $8.7 billion . Cerevel’s antipsychotic drug Emraclidine is currently in a phase two study for schizophrenia and a phase one study in elderly volunteers for Alzheimer’s disease psychosis. CERE 6M mountain Cerevel’s 6-month performance Cerevel’s stock has moved nearly 20% higher since the deal announcement, while AbbVie has gained 23%. Then, on Dec. 22, Bristol-Myers Squibb announced a $14 billion deal to acquire Karuna Therapeutics . The latter’s antipsychotic, KarXT, is expected to launch in late 2024 to treat schizophrenia, according to the release announcing the agreement. Shares of Karuna have since soared nearly 48%,…
2024-02-19 08:44:00
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