Biotechnology: Can Innovation Ease Alzheimer's Growing Burden? Leaning in on Brain Shuttles

研报英文原文证据摘录

Biotechnology: Can Innovation Ease Alzheimer's Growing Burden? Leaning in on Brain Shuttles

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June 11, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMBiotechnology | North America Sean Laaman, Ph.D.

Equity Analyst

Can Innovation Ease Alzheimer's Sean.Laaman@morganstanley.comMichael H Riad, Ph.D. +1 212 761-4947

Research Associate

Michael.Riad@morganstanley.com +1 212 761-1309

Growing Burden? Leaning in on Terence C Flynn, Ph.D.

Terence.Flynn@morganstanley.com +1 212 761-2230

Brain Shuttles Michael E Ulz

Mike.Ulz@morganstanley.com +1 212 761-4650

Can biotech innovation bend the late-life Alzheimer’s burden Chris Yu, J.D., Ph.D.

created by a top-heavy population mix, or will longer lifespan EquityChris.L.Yu@morganstanley.comAnalyst +1 212 761-2535

increasingly convert into higher healthcare spend, caregiver Morgan Stanley Asia Limited+

burden, institutionalization, and socioeconomic strain? Jack Lin

Jack.Lin@morganstanley.com +852 3963-3746

Key Takeaways

Morgan Stanley & Co. LLC

Aging is poised to convert added years of life into added years of dependency. Avraham Novick

Alzheimer's disease (AD) is where that conversion concentrates. Research Associate

Avi.Novick@morganstanley.com +1 212 761-2231

Aging populations will shift AD from clinical burden into a healthcare-spend and Katherine Sun

retirement-system problem. We estimate a $70B US market for AD therapies. Research Associate

Katherine.Sun@morganstanley.com +1 212 761-5968

Life expectancy has risen to an apparent ceiling near ~80yrs, while healthspan Morgan K Gryga

(years without disease impairment) has plateaued at ~70yrs. ResearchMorgan.Gryga@morganstanley.comAssociate +1 212 761-0824

The data suggest we are not adding healthy years at the tail (we are adding

impaired ones).