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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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In Tokyo, a 24-karat anti-aging face mask. Photo: Junko Kimura/Getty Images

As the average age in developed economies rises in the coming years and decades, one of the next big economic disruptions may be in anti-aging medicines, according to a report by Citi.

Why it matters: Already, the anti-aging market is about $200 billion, and the new boom could be in drugs that slow, reverse or prevent age-related disease, Citi says. On the other hand, if people are aging more slowly, and diseases are slowed or prevented, then other drugs, treatments and surgeries, which earn billions of dollars, may not be necessary.

"Over human history, there has been an interest in slowing down aging," said Vanessa Colella, Citi's chief innovation officer and head of its venture capital unit.

The details:

  • Among the most promising drugs under development are ones that would attack "senescent cells," which Citi says are blamed for numerous age-related diseases including arthritis, retinal degeneration and Alzheimer's.
  • One study cited by Citi said the elimination of senescent cells could increase the human lifespan by about 35%.
  • One anti-senescent drug is in a clinical trial on humans with osteoarthritis in their knees, and researchers expect data in the first quarter of next year.

Colella tells Axios, "It's very early and there's lots more work needed to be done" on whether such drugs are effective.

The bottom line: If such drugs pass the clinical trials, they could not only become big sellers, but undercut standard anti-aging drugs that earn billions of dollars and eliminate the need for some knee replacement surgeries, the report says.

Go deeper

U.S. economy added 379,000 jobs in February

Data: FRED; Chart: Axios Visuals

The economy added 379,000 jobs in February, while the unemployment rate dropped from 6.3% to 6.2%, the Labor Department said on Friday.

Why it matters: The first Biden-era jobs report shows hiring surged as coronavirus cases eased — though a full recovery remains far off. Economists expected the economy to add roughly 182,000 jobs last month, after adding a paltry 49,000 in January.

This story is breaking news. Please check back for updates.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Workers are getting a really bad deal

Illustration: Eniola Odetunde/Axios

This week's spate of data highlighted the difficulties Americans who have lost their jobs have had bouncing back from the coronavirus pandemic, and just how much those who have managed to keep their jobs have been working.

What's happening: The Labor Department reported Thursday that the productivity of American workers fell by a revised 4.2% annual rate in the fourth quarter, the largest decline in 39 years.

FBI: Trump appointee arrested in connection with Capitol riot

Photo: Samuel Corum/Getty Images

The FBI on Thursday arrested former State Department aide Federico Klein, a Trump appointee who worked on the former president's 2016 campaign, on charges related to the Jan. 6 storming of the Capitol, according to a court filing.

Why it matters: The 42-year-old Klein is the first member of the Trump administration to be arrested in connection with the insurrection, which led to the former president's second impeachment and charges against over 300 people.

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