In the pharmaceutical world, executives often live by the motto of “fail often, and fail early,” recognizing the importance of knowing when to cut their losses and say no. However, Ivan Cheung, who served as CEO of Eisai, Inc., believes in the importance of having the discipline to say yes when everyone else is advocating for no. This mindset led Cheung to take a significant risk in 2019 by continuing the development of lecanemab, a treatment for Alzheimer’s disease, despite conflicting results from a similar drug, aducanumab.
Cheung’s team presented him with promising early results for lecanemab, and he trusted the data that indicated the drug should move forward. This decision paid off when the U.S. Food and Drug Administration approved lecanemab in 2023, while aducanumab’s manufacturer stopped production the following year. Despite this success, Cheung faced challenges when the drug was initially not reimbursed by Medicare. However, through collaboration with patient advocates, he managed to make a case for coverage and secure reimbursement six months later.
Now the CEO of NextPoint Therapeutics, overseeing cancer treatments, Cheung sees lecanemab as the beginning of a new era of therapies for Alzheimer’s disease. He believes that lecanemab has the potential to spark the development of more therapeutic, diagnostic, and screening options, creating a comprehensive ecosystem to improve care for individuals living with Alzheimer’s. Cheung’s experience with lecanemab highlights the importance of taking calculated risks and staying committed to medical innovation.