No, the Alzheimer cure for all is not for tomorrow

At the end of February, the CMS said it is still not convinced the new class of Alzheimer’s drugs (first brought forward by Biogen, but being studied also by Roche and Eli Lilly) are “reasonable and necessary” for seniors.

Bottom line

Lecanemab (by Biogen/Eisai) is not the Alzheimer's "cure" it wants to be. Despite a slightly better clinical profile than Aduhelm (Biogen's previous drug), the CMS told the Alzheimer’s Association no “new evidence [..] meets the required criteria” to reconsider its reimbursement policy.

After Biogen and Roche, also Eli Lilly is attempting to find a cure using the same drug class, but it is unlikely to yield much better results. Alzheimer's disease is still a tough nut to crack, and investors should remain very cautious in the space. The annual $50bn Alzheimer's market is still far from having a functional drug.

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