STAT+ reported that Medicare is spending far less than expected on newly approved Alzheimer’s drugs Leqembi and Kisunla, citing a Centers for Medicare and Medicaid Services spokesperson. The muted uptake means Medicare is not forecasting significant spending in 2026 or 2027, a sharp reversal from earlier projections that anticipated billions annually. The report ties lower utilization to operational barriers for the infusion drugs, including imaging requirements, a smaller eligible population, and concerns around meaningful benefits relative to side effects such as brain bleeding. Neurologists and Medicare experts described persistent adoption friction since launch. For biopharma, the development is a payer-demand and real-world access signal: even with FDA approvals, coverage and logistical constraints can materially shape volume trajectories. The update also raises questions for manufacturers on patient identification, treatment pathways, and how quickly access hurdles can be reduced at scale.