A good night’s sleep is invaluable. Big Pharma and smaller peers think so too, investing in treatments designed to improve the quantity and quality of sleep. Look at Eli Lilly of the US, paying up to $7.8bn for Centessa, one of whose narcolepsy drugs is readying for phase 3 efficacy trials. Sleep disorder biotech Avadel Pharmaceutical even spawned a bidding war, ultimately going to Ireland-headquartered Alkermes for up to $2.4bn.
The sector’s attractions are clear as day. More people worry about poor sleep than excess weight. About a third of adults in western countries suffer sleep problems at least once a week, says the National Institute for Health and Care Excellence. That pips those eligible for weight-loss GLP-1s. But like the latter, sleep disorder treatments are also likely to be sold directly to consumers.
Science and governments would appear to be on board too. A UK parliamentary paper on the topic noted sleep was as important as food and water; although nearly a decade later, there’s been little by way of action. Government concerns reflect links with a host of diseases and conditions, among them Alzheimer’s, cancer and diabetes.