Health company Magellan Health is aiming to sell the anti-Epidemic Pills to people in Australia.

Magellan is working with a team of scientists to develop the pill, which it hopes will reduce the number of people dying each year by 90 per cent.

“We want to offer the first ever treatment that works in a safe, affordable and effective way for people who are dying in Australia,” Magellan’s chief medical officer David Mervine said.

“It’s a really exciting time for Australian health, and we think this is the best approach.”

Dr Mervines co-authored the study which was published in the Journal of the American Medical Association.

“These drugs can dramatically reduce the rate of mortality from infectious diseases, including infectious coronavirus, and also offer hope for patients and their families,” he said.

The study found that people with diabetes who took the pill were more likely to survive their illness.

“There’s no doubt that a lot of people have lost hope that we can treat them, and so that’s why we think the treatment will be so valuable,” Dr Mervides said.

Mortgage company Magellan has teamed up with two of Australia’s largest mortgage providers, Fannie Mae and Freddie Mac, to develop a ‘magic pill’ that could reduce the risk of people falling into debt.

“This is an important and highly promising initiative in the field of medicine, where a huge amount of progress has been made in recent years in reducing the burden of health care and social stigma,” Dr Michael Ainsworth, FNB’s CEO, said.

“Fannie Mae is very excited about the development of the Magellan Magic Pill, and looks forward to continuing to invest in research and development in this area.”

The company said it had received “substantial interest” from banks to conduct a pilot trial, and that it hoped to have a final report out in 2020.