Health Desk: 11 January 2018: The US-based pharmaceutical giant Pfizer has announced it is pulling out of research into drugs to treat Alzheimer's disease.
The drug company said it would be ending its neuroscience discovery programmes following a review, and 300 jobs would be lost.
The Alzheimer's Society called the news "disappointing" and a "heavy blow" to those living with dementia.
Companies should be encouraged to invest in research into neuroscience, Alzheimer's Research UK said.
The move means Pfizer will also stop looking for treatments for Parkinson's disease, but the company said it planned to create a new fund dedicated to neuroscience research in the future.
A statement from the company said: "We have made the decision to end our neuroscience discovery and early development efforts and re-allocate funding to those areas where we have strong scientific leadership and that will allow us to provide the greatest impact for patients."