Leqembi gains traction in China as commercial insurance innovative drug list expands access for Alzheimer’s patients

BioArctic AB and Eisai’s Leqembi (lecanemab) has crossed a significant milestone in the world’s fastest-growing Alzheimer’s disease market. Eisai announced on December 8, 2025, that Leqembi has been selected for China’s newly launched Commercial Insurance Innovative Drug List, under the authority of the National Healthcare Security Administration of China. This move, effective January 1, 2026, positions Leqembi as one of the most accessible disease-modifying therapies for Alzheimer’s disease in China, a market where approximately 17 million people are estimated to have mild cognitive impairment or mild dementia due to Alzheimer’s disease, with numbers climbing as the population ages.

The establishment of the Commercial Insurance Innovative Drug List marks a shift in Chinese healthcare policy, aiming to bridge the gap between the public National Reimbursement Drug List and the private sector. The list empowers commercial insurers to negotiate directly with pharmaceutical manufacturers and create tailored insurance products that cover cutting-edge treatments not yet included in the state’s basic reimbursement system. For Leqembi, this status means faster patient access and sets a precedent for other innovative therapies.

How does China’s new insurance approach influence the Alzheimer’s drug market and competitive landscape?

The innovative insurance list is not just another layer of bureaucracy. It is designed to accelerate the uptake of drugs that address significant unmet medical needs, such as Leqembi. By allowing commercial insurers to work with pharmaceutical companies like Eisai and BioArctic AB, the policy reduces traditional delays caused by slow National Reimbursement Drug List updates. This new pathway offers patients a middle ground between out-of-pocket expenses in the private market and the wait for full public reimbursement.

Industry analysts suggest this approach could have ripple effects across other high-burden disease categories. The spotlight is now on BioArctic AB and Eisai to demonstrate that commercial insurance can drive meaningful market penetration, while investors and sector observers track the speed and scale at which patients gain access to Leqembi in 2026. This strategy could serve as a model for other pharmaceutical firms navigating China’s complex payer landscape.

What is the significance of the BioArctic AB and Eisai partnership in advancing Alzheimer’s therapies worldwide?

The collaboration between BioArctic AB and Eisai has become a textbook example of cross-border biotech partnerships. Leqembi originated from BioArctic AB’s discovery of the Arctic mutation in Alzheimer’s disease by Professor Lars Lannfelt and was subsequently developed through a strategic alliance. While BioArctic AB retains rights to commercialize Leqembi in the Nordic region, Eisai leads global clinical development, regulatory submissions, and commercialization, including the all-important Chinese and United States markets.

This partnership structure is notable because BioArctic AB does not bear development costs for Leqembi in Alzheimer’s disease, instead benefitting from milestone payments and royalties as sales accelerate globally. This risk-mitigated model allows BioArctic AB to focus on innovation and new pipeline assets while still participating in the commercial upside of Leqembi’s expansion.

How does Leqembi’s regulatory and clinical progress position it in the Alzheimer’s market globally?

Leqembi is already approved in 51 countries, with regulatory reviews underway in nine more. Key regulatory milestones in 2025 included approval of intravenous maintenance dosing every four weeks in China, the United States, and the United Kingdom. The United States market also saw the introduction of Leqembi Iqlik, a subcutaneous autoinjector, for maintenance therapy in early Alzheimer’s disease. Additional applications for subcutaneous initiation dosing are under review in the United States and Japan.

The product’s clinical footprint is expanding with major studies such as AHEAD 3-45, a four-year, fully recruited Phase 3 trial targeting individuals with preclinical Alzheimer’s disease and elevated amyloid. Conducted as a public-private partnership with Biogen and the Alzheimer’s Clinical Trial Consortium and funded by the National Institute on Aging, this trial reflects the growing appetite for interventions that target Alzheimer’s disease before symptoms emerge. Eisai’s Tau NexGen study, conducted by the Dominantly Inherited Alzheimer Network Trials Unit at Washington University School of Medicine, is also ongoing, further solidifying Leqembi’s relevance in both sporadic and inherited forms of Alzheimer’s disease.

How are financial and investor dynamics shifting for BioArctic AB and Eisai as a result of this development?

BioArctic AB’s shares, listed on Nasdaq Stockholm under the ticker BIOA B, tend to respond positively to regulatory and reimbursement milestones. The addition of Leqembi to China’s Commercial Insurance Innovative Drug List, although not the same as full public reimbursement, has been received by market watchers as an important catalyst. Institutional investors are closely following the roll-out, as this policy provides an early indicator of future patient uptake and revenue growth in China’s vast Alzheimer’s disease market.

Market sentiment around Eisai and BioArctic AB is buoyed by the broader recognition of Leqembi’s clinical profile and expanding global footprint. The joint venture’s ability to secure innovative reimbursement models in high-potential markets is viewed as a key differentiator and de-risking factor by investors and analysts. As insurers in China begin to offer coverage, attention will shift to real-world utilization, patient outcomes, and the speed at which commercial uptake translates into sales milestones and royalty streams for BioArctic AB.

What are the long-term implications of Leqembi’s insurance inclusion for Alzheimer’s treatment and healthcare innovation in China?

Looking ahead, the new commercial insurance pathway could accelerate adoption of Leqembi, stimulate demand for cognitive testing and diagnostic services, and potentially lead to further public reimbursement reforms. As more patients receive early intervention, the pharmaceutical sector may see greater pressure to deliver additional innovations targeting Alzheimer’s disease and related dementias. Eisai and BioArctic AB are preparing for increased market activity, not just in China but also in the Nordic region where joint commercialization is being planned.

Healthcare policy experts point out that the Commercial Insurance Innovative Drug List may serve as a testing ground for integrating other breakthrough drugs, creating a new template for emerging markets. Investors and analysts will be watching for early adoption metrics, coverage levels, and follow-on policy changes that could propel Leqembi and future therapies to broader patient populations. The move also highlights China’s growing commitment to advancing healthcare innovation through creative public-private models.

What are the key takeaways from Leqembi’s commercial insurance milestone in China?

• Leqembi’s inclusion in China’s Commercial Insurance Innovative Drug List marks a strategic breakthrough for Alzheimer’s drug access and the future of innovative medicines in one of the world’s largest healthcare markets. Here are the most important highlights from this development:

• Leqembi, developed by BioArctic AB and Eisai, has been selected for China’s Commercial Insurance Innovative Drug List, enabling greater access for the country’s large Alzheimer’s patient population.

• The new insurance pathway allows commercial insurers to negotiate directly with pharmaceutical companies and build targeted insurance products covering innovative drugs not yet available on the public National Reimbursement Drug List.

• This move is expected to bridge the access gap for about 17 million people in China estimated to have mild cognitive impairment or mild dementia due to Alzheimer’s disease.

• Eisai, which launched Leqembi in China’s private market in June 2024, is poised for faster market adoption as the new insurance coverage takes effect on January 1, 2026.

• The BioArctic AB and Eisai partnership structure enables BioArctic AB to benefit from milestone payments and royalties without direct development costs, creating a risk-sharing model admired by industry analysts.

• Leqembi is approved in 51 countries and is undergoing regulatory review in nine others, with significant clinical trial activity—including the AHEAD 3-45 and Tau NexGen studies—supporting its expanding global profile.

• Investor sentiment around BioArctic AB (Nasdaq Stockholm: BIOA B) and Eisai remains positive, with market observers seeing the Chinese insurance milestone as a catalyst for further commercial growth and future public reimbursement reforms.

• China’s insurance innovation could serve as a model for other emerging markets, inspiring public-private collaborations for breakthrough therapies across additional disease areas.

• The Commercial Insurance Innovative Drug List may drive broader demand for early Alzheimer’s diagnosis and treatment services, encouraging more systemic innovation in healthcare delivery.

• Leqembi’s insurance breakthrough underlines China’s commitment to expanding healthcare access through creative policy and industry partnerships, setting the stage for rapid advances in Alzheimer’s treatment and patient care.