McGill University Health Centre Receives $1,000,000 From Novartis Pharmaceuticals
Novartis Pharmaceuticals Canada Inc. announced today that it is contributing $1,000,000 to Canada's largest osteoporosis study, which is being directed by researchers from the Research Institute of the McGill University Health Centre. This funding will help support the second phase of research of the Canadian Multicentre Osteoporosis Study (CAMOS) which will focus on ways to prevent and eliminate osteoporotic fractures in the elderly.
'This investment represents a major commitment for Novartis," says Monique Giguère, Senior Medical Advisor, Novartis Pharmaceuticals Canada Inc. "We recognize the importance, merits and progress of the CAMOS project and are very proud to join this internationally renowned team."
"Osteoporosis is a debilitating bone disease that affects, approximately, 25 percent of individuals over 50 years of age, " says principal investigator, Dr. Alan Tenenhouse. "Very often patients who have suffered a fracture as a consequence of osteoporosis are unable to perform daily functions and have a diminished quality of life. The economic impact of osteoporosis in Canada is significant, currently estimated at more than one billion dollars annually, and we believe that costs will double during the next 30 years. The results from the CAMOS project are essential for the development of rational, effective, safe, and affordable programs for prevention and treatment of osteoporosis."
"The objective of CAMOS is to free Canadian seniors from the threat of osteoporosis and fractures. Through collaborations such as the one with Novartis, I am hopeful that we can achieve this objective, " concludes Tenenhouse.
Phase one of the Canadian Multicentre Osteoporosis Study (CAMOS) began in 1995, and a second five-year phase began in January 2002. The study is lead by Dr. Alan Tenenhouse Director of the Division of Bone Metabolism, Department of Medicine, McGill University Health Centre. The study involves the participation of over 9, 000 participants and takes place in nine centres across Canada, from St. John's to Vancouver. The study will provide better insight into the causes of osteoporosis and its prevention.
About Novartis Canada
Novartis Pharmaceuticals Canada Inc., a leader in the healthcare field, is committed to the discovery, development and marketing of innovative products to improve the well being of all Canadians. Novartis Pharmaceuticals Canada conducts hundreds of clinical trials across the country seeking new treatments for cardiovascular disease, diabetes, cancer, organ transplantation and glaucoma. In 2001, the Company invested $34 million in research and development. Novartis Pharmaceuticals Canada Inc. employs approximately 650 people in Canada and its headquarters are located in Dorval, Quebec. In addition to Novartis Pharmaceuticals Canada Inc., the Novartis Group in Canada consists of Novartis Animal Health Canada Inc., Novartis Consumer Health Canada Inc., (including Novartis Nutrition Corporation and Gerber [Canada] Inc.) and CIBA Vision Canada Inc. For further information about Novartis Canada, please consult http://www.novartis.ca.
Novartis AG (NYSE: NVS) is a world leader in healthcare with core businesses in pharmaceuticals, consumer health, generics, eye-care, and animal health. In 2001, the Group's businesses achieved sales of CHF 32.0 billion (USD 19.1 billion) and a net income of CHF 7.0 billion (USD 4.2 billion). The Group invested approximately CHF 4.2 billion (USD 2.5 billion) in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ about 72 600 people and operate in over 140 countries around the world. For further information please consult http://www.novartis.com.