Lysanafae: Wasting disease is permanent unless cured. Stat loss isn't curable.
If you can get to Temple quickly to cure it, that is a solution. There is also the possibility of using Cure potion, but it is not a common drop (earliest possibility is Temple donation, followed by a rare drop from a certain Vampiress, drops in Brimloch or Skull Castle).
This isn't directly answering the question, but for new players: The easiest way to check for Wasting Disease is to cast Great Heal and see if the green face status effect vanishes. Otherwise, just wait until any nausea would have worn off.
Stat loss may not necessarily ruin a character; the player can use Reset Adventures (or have a rogue and a mage work together in later levels) to gather more Ankhs. If the stat loss is in Strength, there is also the possibility of invoking "of Holding" jewelry.
So its worse than I thought, haha.. What if I purposely kill the character than revive them later. Does that rid the disease?