Tokyo: A Japanese health ministry panel has approved a plan to reduce the price of Lecanemab, an Alzheimer's drug co-developed by Japanese drugmaker Eisai Co. and US company Biogen Inc., by 15 percent in Japan starting November 1.

According to Philippines News Agency, the decision follows an assessment by the Central Social Insurance Medical Council, which highlighted the drug's low cost-effectiveness for treating dementia caused by Alzheimer's disease. The price adjustment will see the cost of a 500-milligram bottle lowered to 97,277 yen. Dosages are determined based on a patient's weight.

For instance, a patient weighing 50 kilograms would experience an annual cost decrease from approximately 2.98 million yen to about 2.53 million yen. Lecanemab is noted for its ability to remove abnormal proteins in patients' brains, potentially slowing disease progression.

The medication was evaluated under a system that adjusts drug prices for high-priced or large-market drugs according to their cost-effectiveness.