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LEQEMBI® (Lecanemab) Approved for the Treatment of Alzheimer’s Disease in Australia

Key Takeaway: Eisai and Biogen announced that Australia's Therapeutic Goods Administration has approved LEQEMBI (lecanemab) for treating mild cognitive impairment and mild dementia due to Alzheimer's disease. This decision follows a review process after an earlier denial by the TGA. The approval is significant given the rising number of dementia cases in Australia, projected to reach 1.1 million by 2065.
Price reaction · baseline $139.31 (2025-09-23 close) · hit pre-market · 1 other BIIB headline(s) in the window, move may be shared
day 0 close · peak
-1.2%

Market Sentiment Analysis

POSITIVE FACTORS

  • LEQEMBI approved for early Alzheimer's disease treatment in Australia.
  • Addresses a significant unmet need for patients with mild cognitive impairment.
  • Eisai and Biogen's collaboration enhances market reach and support.

CONCERNS & RISKS

  • Previous TGA decision in February 2025 denied approval for lecanemab.
  • Potential side effects include ARIA, which can cause brain swelling.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+34%
120-day peak, hindsight
Typical move
1.8%
average across 15 past catalysts
Lead asset
Alefacept
Phase 3 · Chronic Plaque Psoriasis

Full Press Release Details

TOKYO and CAMBRIDGE, Mass., Sept. 24, 2025 (GLOBE NEWSWIRE) -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, “Biogen”) announced today that the Therapeutic Goods Administration (TGA) of Australia has approved the humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody “LEQEMBI®” (brand name, generic name: lecanemab) for mild cognitive impairment (MCI) or mild dementia due to Alzheimer's disease (AD) (collectively referred to as early AD) in adults who are either ApoEε4* non-carriers or heterozygous carriers.
In response to February 2025 TGA decision not to approve lecanemab as a treatment for people with early AD, in March 2025, Eisai requested a review by the Administrative Review Tribunal. As a result of discussions during this process, the TGA and Eisai reached an agreement that led to the approval of LEQEMBI.
In Australia, the number of people living with dementia was estimated to be approximately 425,000 in 2024, and is reported to increase to nearly 1,100,000 by 2065.1AD is considered the most common cause of dementia, typically accounting for 60-70% of cases.2AD is a progressive, relentless disease with amyloid beta (Aβ) and tau as hallmarks that is caused by a continuous underlying neurotoxic process that begins before amyloid plaque removal and continues afterward.3,4,5Only LEQEMBI fights AD in two ways – targeting both the toxic protofibrils** and amyloid plaque2, which can impact tau downstream.
Eisai serves as the lead for lecanemab’s development and regulatory submissions globally with Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority.
* Apolipoprotein E is a protein involved in the metabolism of fats in humans. It is implicated in AD. People with only one (heterozygous) or no copy (non-carriers) of the ApoE ε4 gene are less likely to experience ARIA than people with two ApoE ε4 copies (homozygous).2ARIA is a recognized important side effect with lecanemab that involves swelling and potential bleeding in the brain.6,7
** Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.3Protofibrils cause injury to neurons in the brain, which in turn, can negatively impact cognitive function via multiple mechanisms, not only increasing the development of insoluble Aβ plaques but also increasing direct damage to brain cell membranes and the connections that transmit signals between nerve cells or nerve cells and other cells. It is believed the reduction of protofibrils may prevent the progression of AD by reducing damage to neurons in the brain and cognitive dysfunction.4
MEDIA CONTACTS
Eisai Co., Ltd.Public Relations Department+81 (0)3-3817-5120 Biogen Inc.Madeleine Shin+ 1-781-464-3260public.affairs@biogen.com
Eisai Europe, Ltd.(UK, Europe, Australia, New Zealand and Russia)EMEA Communications Department+44 (0) 7739 600678EMEA-comms@eisai.net
Eisai Inc. (U.S.)Libby Holman+ 1-201-753-1945Libby_Holman@eisai.com
INVESTOR CONTACTS
Eisai Co., Ltd.Investor Relations Department+81 (0) 3-3817-5122 Biogen Inc.Tim Power+ 1-781-464-2442IR@biogen.com

Notes to Editors

References

Frequently Asked Questions

What is LEQEMBI approved for?

LEQEMBI is approved for mild cognitive impairment and mild dementia due to Alzheimer's disease.

Who developed LEQEMBI?

LEQEMBI was developed by Eisai and is co-promoted with Biogen.

What was the TGA's previous decision on lecanemab?

The TGA previously denied approval for lecanemab in February 2025.

What are the side effects of LEQEMBI?

LEQEMBI may cause ARIA, which involves brain swelling and potential bleeding.

How does LEQEMBI work?

LEQEMBI targets both toxic protofibrils and amyloid plaques associated with Alzheimer's.

Last updated: Sep 24, 2025