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Hunt announces £68m partnership with pharmaceutical companies to battle dementia

Health secretary Jeremy Hunt has announced a £68m fund to help research new treatments for dementia through a global partnership between major pharmaceutical companies and the UK Government.

Biogen, GlaxoSmithKline, Johnson and Johnson, Lilly and Pfizer have all committed in principle to investing in the project alongside Alzheimer’s Research UK.

The Government has worked with the financial services company JP Morgan to structure the Dementia Discovery Fund as a means of financing dementia research.

The funds committed by investors today include £15m that the Government announced in the autumn last year.

Speaking at a World Health Organization conference on global action against dementia, Mr Hunt said: ‘The new fund is a unique collaboration, bringing together the combined expertise of government, financial, industry and charity partners.

‘It marks a global consensus that research needs greater priority and that new sources of finance are needed to translate the best science into effective treatments.’

Mr Hunt is hopeful of bringing in more investors in future.

Readers' comments (3)

  • So why do they need more guinea pigs/ patient diagnosed for big pharma to test on.Most of us suspected this was on the cards any way.This country is corrupt to the core.

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  • Vinci Ho

    What about all these companies also paid a levy to the core funding of NHS without any string attached?

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  • 3-4 months before the General Election every Government tried to spend money generously to get votes. Pensions, NHS funding, reduction of duties on alcohol. Post election budget subsequently takes away more then offered preelection times.

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