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Talquetamab for treating relapsed and refractory multiple myeloma after 3 or more treatments

As of December 2025, MARA’s assessment finds Talquetamab’s reimbursement risk concentrated in uncertainty, sensitivity, and broader impacts, with comparator selection a strength; the current MARA Rating and full rationale are available in the report.

The assessment also weighs clinical effectiveness: how much additional benefit the drug demonstrated over the care patients already receive — the first question every payer asks. The strength recorded in comparator selection carries weight because that domain asks whether the drug was tested against the treatment payers actually fund today; a benefit shown against the wrong comparator carries little weight in a reimbursement decision.

Oncology

This rating sits within MARA’s Oncology coverage, alongside 153 other independently assessed treatments in the same area.

What payers will ask

Is the clinical benefit the kind payers reward? — Clinical effectiveness

The evidence indicates that talquetamab has comparable efficacy to teclistamab, meeting non-inferiority but lacking clear superiority. The overall response rate was 69.5%, but median overall survival was not estimable, and median progression-free survival was only 11.2 months. The committee noted significant uncertainty in the indirect treatment comparison results, particularly regarding overall survival, which suggests that while talquetamab is effective, it does not demonstrate a clear therapeutic advance over existing treatments.

Does the economic case hold at the expected price? — Cost effectiveness

The cost-effectiveness estimates for talquetamab fall within the acceptable range for NHS resources, with an ICER around £20,000 to £30,000 per QALY gained. The committee concluded that the cost-effectiveness estimates are defensible, although there remains some uncertainty regarding the overall survival benefit and the impact of COVID-19 on the clinical evidence.

Is there quality-of-life evidence payers weigh? — Quality of life

The evidence suggests that talquetamab may improve quality of life, particularly due to its lower incidence of severe infections compared to teclistamab. Patient experts indicated that side effects, such as altered taste, are manageable and do not significantly detract from overall quality of life. However, the evidence is primarily based on clinical trial data, which may not fully capture real-world HRQoL impacts.

Does the safety profile hold up for payers? — Safety and Adverse Effects

Talquetamab has a very good safety profile, with mostly mild to moderate adverse events reported. The committee noted that there were fewer severe infections compared to teclistamab, which supports its favorable safety profile. However, some concerns remain regarding the management of side effects, particularly altered taste and weight loss.

Was the drug compared against what payers expect? — Comparator Selection

The evaluation compared talquetamab with teclistamab, which is a relevant and appropriate comparator for relapsed and refractory multiple myeloma. The committee acknowledged that teclistamab is commonly used in clinical practice, making it a suitable choice for comparison. However, the evolving treatment landscape may introduce some limitations in the comparators used.

Is the population defined the way payers need it? — Patient Population and Subgroups

The trial population for talquetamab is representative of the intended patient population, specifically those with relapsed and refractory multiple myeloma who have undergone multiple prior treatments. The committee noted that the majority of patients in clinical practice would align with the trial population, although some subgroup analyses could be more comprehensive.

Does the drug fit how care is delivered and paid for? — Care Pathway Integration

Talquetamab can be integrated into existing care pathways with minor adjustments, as it does not require significant changes to current treatment protocols. The committee noted that the treatment regimen is manageable within the current healthcare system, which supports its adoption.

Are the wider system costs understood? — Resource Use and Cost Implications

The resource implications of talquetamab are manageable, with the potential for cost savings due to its favorable safety profile and reduced need for additional treatments. The committee concluded that the budget impact is justifiable given the expected benefits, although there are concerns about the overall affordability at scale.

Would the evidence survive payer scrutiny? — Evidence Quality and Robustness

The evidence base for talquetamab includes data from ongoing phase 1 and 2 trials, which provides some robustness. However, the reliance on indirect treatment comparisons introduces uncertainty, particularly regarding overall survival estimates. The committee noted that while the evidence is generally credible, there are gaps that need to be addressed.

How exposed is the case to uncertainty? — Uncertainty, Sensitivity, and Broader Impacts

There is considerable uncertainty surrounding the overall survival benefit of talquetamab compared to teclistamab, particularly due to the impact of COVID-19 on trial outcomes and the variability in treatment responses. The committee acknowledged these uncertainties but noted that real-world evidence may help mitigate some concerns.

Be alerted when this rating changes:

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