Alzheimer’s Research UK said it was “a bittersweet moment”.
“The approval of lecanemab is a milestone moment but the decision by NICE not to approve it for the NHS is deeply disappointing,” said head of policy David Thomas.
Dr Samantha Roberts, chief executive of NICE, said the body had rigorously evaluated the available evidence, including the benefit for carers, but could only recommend treatments that “offer good value to the taxpayer.”
“Lecanemab provides on average four to six months’ slowing in the rate of progression from mild to moderate Alzheimer’s disease, but this is just not enough benefit to justify the additional cost to the NHS,” said Helen Knight, director of medicines evaluation at NICE.
Around 70,000 adults in England would have been eligible for treatment with lecanemab.
The body which assesses newly-licensed medicines in Scotland has not yet made a decision on the value of the drug.
Lecanemab works by clearing a rogue protein called amyloid which builds up in the brains of Alzheimer’s patients. It is given as an intravenous infusion every two weeks.
Alzheimer’s researchers hailed the trial results as historic because no previous drug had convincingly shown that the underlying mechanism of the disease could be slowed.
But there were concerns over the frequent occurrence of what are known as amyloid-related imaging abnormalities (ARIA) which show up in MRI scans, such as small brain bleeds and temporary swelling.
Although most of these in trials were mild or without symptoms, in some cases participants required hospital treatment.
No price for the drug has been publicly announced in the UK but in the US it costs around £20,000 per patient per year.
Fiona Carragher of the Alzheimer’s Society told BBC News the decision would “lead to uncertainty and confusion for the nearly one million people living with dementia”.
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