A MARA Rating we completed for an Alzheimer’s treatment arrived with one of the highest public profiles in recent memory.

The phase 3 trial showed meaningful slowing of cognitive decline. The results were statistically significant. The monitoring requirements — frequent brain scans, genetic testing — were substantial but manageable.

Then we reviewed the economics and the approval conditions.

The cost was above what reimbursement systems accept. In Europe, a high-risk genetic subgroup was excluded entirely from the approved indication.

Years of clinical investment. A narrower patient population and a largely closed economic door.

Read the full MARA Rating here: https://mararating.com/report/leqembi-lecanemab-for-early-alzheimeros-disease-as-of-march-2026/