The drug maker AstraZeneca says it’s developing a new type of anti-ageing drug that could cost as little as $500, according to a report by The Globe and Mail.
The drug, called ADZ-150, was approved by the U.S. Food and Drug Administration last month for the treatment of mild cognitive impairment.
AstraMed has developed a generic version that costs as little at $200, according the Globe.
Its drug is already being tested in people with mild cognitive impairments.
The drug also targets the brain’s cellular aging process and the effects of drugs on neurons.
The company is also working on an experimental version that could be used in people over age 50.
AstorZeneca said the drug could have clinical trials by 2020, and it would be available by 2025.
The new drug, however, will only be available to people over the age of 65.
An Astra Zeneca spokesperson told The Globe that ADZ is designed to help people with cognitive impairment, such as dementia.
“There is no evidence that ADAZ-150 is effective for the aging brain,” the spokesperson said in an email.
It could be possible to treat mild cognitive decline and cognitive impairment with ADZ, the spokesperson added.
The drugmaker is also developing a drug that might help people over 65 with mild neurodegenerative disease, the spokesman said.
“ADZ-151 is designed for people over 70 with mild Alzheimer’s disease,” the spokesman added.
“The goal is to have ADZ approved by FDA in 2020.”
Advocates for seniors say that if ADZ could be available for as little, if not as little an amount as it is now, seniors could be saved billions of dollars over the next decade.
“We’ve seen this before with medications like Prozac,” said Susan O’Leary, the president of the National Alzheimer’s Association.
“We’ve been saving people millions of dollars by taking these drugs, and they’re not effective at all.”
In 2010, a study by researchers at the University of Toronto found that the cost of ADZ was between $500 and $2,000, and a generic of the drug cost between $200 and $400.
O’Leary says she believes that drug companies could save seniors tens of billions of a dollar by making drugs less expensive and more available.
If the drugmaker develops an FDA-approved version of ADX-150 and sells it for less, it could save the government an estimated $3.6 billion a year.
In addition to the costs of drugs, older Americans are also spending hundreds of millions of extra dollars on medication and care.
In 2016, seniors spent more than $200 billion on prescription drugs.
Health care experts have said that if medications were more affordable, it would allow older Americans to save more money in the long run.
But many older Americans say that there is not enough money in their budgets for the medication they need.
“It’s really difficult for us to get to a point where we can afford medications and care,” said Lisa Bovee, a senior who lives in the Toronto suburb of Brampton.
“If the government starts to pay for it, it’ll really mean a lot.”