BIIB/LLY/BMY: Barclays Alzheimer's KOL Call: US takeaways

Research evidence excerpt

BIIB/LLY/BMY: Barclays Alzheimer's KOL Call: US takeaways

Barclays | BIIB/LLY/BMY

Key Takeaways from the Call

Anti-Amyloid Adoption Remains Capacity-Constrained Despite Growing

Diagnostic Access

•• The KOL emphasized that physician capacity, rather than patient demand, remains the

primary bottleneck limiting broader anti-amyloid adoption. While blood-based biomarkers,

APOE testing, and increasingly streamlined diagnostic workflows are helping accelerate

patient identification, he believes the healthcare system is already struggling to support

current demand, particularly in under-served regions where specialist availability remains

limited.

•• The KOL currently manages ~150 patients receiving anti-amyloid therapy and noted

that Kisunla utilization (n= ~100) exceeds Leqembi (n = ~50) largely for operational

reasons, including finite treatment duration and reduced logistical burden for patients

traveling long distances. Importantly, he does not view efficacy differences between currently

approved anti-amyloid therapies as particularly meaningful in routine clinical practice.

•• On the safety front, KOL also noted similar ARIA risk between the two agents when using

modified dosing for Kisunla. KOL also noted some patients may opt for Leqembi maintenance

following Kisunla discontinuation.

•• Looking ahead, the KOL expressed concern regarding the potential impact of positive

preclinical Alzheimer's disease studies. While earlier intervention likely represents the

future of the field, he believes the current infrastructure is insufficient to support widespread

treatment of asymptomatic or preclinical patients and would require a substantial expansion

in trained providers, monitoring capabilities, and diagnostic resources.