US VA to cover Eisai, Biogen Alzheimer's treatment Leqembi
Reuters
Published Mar 13, 2023 03:43PM ET
Updated Mar 14, 2023 07:05AM ET
(Reuters) -Eisai Co Ltd and Biogen Inc (NASDAQ:BIIB) said on Monday that the U.S. Department of Veteran Affairs (VA) will provide coverage of their Alzheimer's treatment Leqembi to veterans at an early stage of the memory-robbing disease.
The VA did not immediately respond to a request for comment, but a document on its website shows that the agency added Leqembi to its list nonformulary drugs, making it available provided patients request it, receive prior approval, and meet strict inclusion criteria for the drug's use.
The VA's coverage comes as initial patient access to the recently approved drug remains limited by a number of factors including reimbursement restrictions by the government's Medicare health program for Americans aged 65 and older, who represent some 90% of individuals likely to be eligible for Leqembi.
The companies set an initial annual price of about $26,500 for Leqembi.
The drug, known chemically as lecanemab, belongs to a class of antibody treatments designed to slow advance of the neurodegenerative disease by removing sticky clumps of the toxic protein beta amyloid from the brain.
Leqembi has so far been approved in the U.S. under the Food and Drug Administration's accelerated review program. Medicare currently restricts drugs in its class approved under that pathway.
The treatment is currently undergoing the FDA's standard review process, which will weigh its impact on cognitive function.
Eisai and Biogen have said they expect full U.S. approval for Leqembi by summer or late this year, which would likely open up coverage by Medicare and other health insurers.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.