Evidaxia
Evidence synthesis

Indirect treatment comparisons: NMA, MAIC, STC and ML-NMR.

When head-to-head trials do not exist, the indirect comparison often decides the submission. We choose methods that the evidence can support and that assessors can defend.

Reviewed by Hasan Bari, Founder and Managing Director · Updated October 2026

Feasibility first

The most important step in an indirect comparison happens before any model is fitted: assessing whether studies are similar enough to compare. We map populations, outcome definitions, follow-up and potential effect modifiers across the network, and decide which comparisons are defensible, anchored or unanchored, and on which scale.

What we deliver

  • Feasibility assessments and evidence network mapping
  • Network meta-analysis, fixed and random effects, Bayesian and frequentist
  • Component NMA for combination treatments
  • Matching-adjusted indirect comparisons (MAIC) and simulated treatment comparisons (STC)
  • Multilevel network meta-regression (ML-NMR)
  • Time-to-event NMA, including fractional polynomial and piecewise approaches
  • Sensitivity analyses, inconsistency checks and transparent reporting

Built for NICE and the JCA

NICE DSU Technical Support Document 18 sets out recommendations for population-adjusted methods, and the EU HTA Coordination Group has published methodological guidelines on direct and indirect comparisons for joint clinical assessment. We design analyses that satisfy both. Read our in-depth analysis: population-adjusted indirect comparisons for HTA.

Linked to your review and model

Our indirect comparisons draw on systematic reviews designed for them, and feed directly into the economic model, so the evidence chain is consistent from search to cost per QALY.

When an indirect comparison matters

Many new medicines reach HTA with a pivotal trial against placebo or against a single active comparator, while the scope lists several comparators. NICE's technology appraisal and highly specialised technologies manual (PMG36) asks for a network meta-analysis, where appropriate, when the technologies of interest have not been compared within a single randomised trial. It notes that the network should ideally contain all the technologies identified as interventions or appropriate comparators in the scope, and that NICE prefers the methods set out in the Decision Support Unit evidence synthesis series of Technical Support Documents.

The EU joint clinical assessment widens the question. Member States set out their needs through the PICO survey in the scoping process, and each PICO in the consolidated assessment scope may call for its own analysis. The HTA Coordination Group's methodological and practical guidelines on direct and indirect comparisons, both adopted on 8 March 2024, describe how those analyses are conducted and reported. National agencies such as SMC and NCPE then draw on the same comparative evidence for their own decisions, so a well-designed network can serve several submissions at once. See EU JCA dossiers and one evidence plan for NICE and the JCA.

Choosing a method: what each one needs

MethodData it usesWhere it fitsCentral assumption
Bucher comparison or network meta-analysisAggregate results from randomised trials linked through common comparatorsConnected networks of broadly similar trialsSimilarity, homogeneity and consistency of relative effects across the network
Anchored MAICIndividual patient data (IPD) for one trial, published aggregate data for the other, and a shared comparatorTwo trials with imbalanced effect modifiers; the estimate applies to the population of the aggregate-data trialConditional constancy of relative effects: all effect modifiers are reported for the aggregate-data trial and adjusted for
Anchored STCAs for MAIC, using an outcome regression modelAs for MAIC, where a regression approach suits the outcomeThe outcome model is correctly specified for the effect modifiers
ML-NMRIPD from at least one trial combined with aggregate data across a networkLarger connected networks with imbalanced effect modifiers; estimates can be produced for a chosen target populationA shared model for how effect modifiers act across the network
Unanchored comparisonSingle-arm or disconnected evidenceWhere no shared comparator existsTreated as non-randomised evidence; relies on conditional constancy of absolute effects, so all prognostic factors and effect modifiers need adjusting for

EU guidance puts anchored comparisons first: the HTA Coordination Group guideline states that anchored indirect comparisons preserve randomisation and should always be used in preference to unanchored methods, and that unanchored comparisons call for methods for non-randomised evidence. PMG36 adds that population adjustment needs individual patient data from at least one trial in the comparison or network, and refers to NICE DSU TSD 18, which notes that unanchored comparisons need adjustment for all effect modifiers and prognostic variables. Our analysis of population-adjusted indirect comparisons sets out how these choices play out in practice.

What a strong indirect comparison looks like

Assessors value comparisons they can follow, reproduce and test. In our experience, the strongest analyses share a few qualities:

  • A documented feasibility assessment: The HTA Coordination Group frames all evidence synthesis around exchangeability, examined through similarity, homogeneity and, for indirect comparisons, consistency. A clear record of how populations, definitions and follow-up compare makes that case visible.
  • A network that matches the scope: Trials that connect relevant treatments are included even when they also contain other arms, as PMG36 describes.
  • Trial-level transparency: A table of baseline characteristics for each included trial, and sensitivity analyses that include or exclude trials whose relevance is uncertain.
  • Inconsistency explored and explained: Where direct and indirect evidence differ, the analysis sets out possible reasons and how they were investigated.
  • Analyses planned in advance: A base case and sensitivity analyses defined before results are seen are easier for every reader to trust.
  • Code and outputs that can be rerun: Results that an external assessor can reproduce and adapt to alternative assumptions.
FAQ

Common questions

Anything else? Email info@evidaxia.com.

What is an indirect treatment comparison?

An analysis that estimates the relative effect of two treatments that have not been compared head to head, by linking trials through common comparators or by adjusting for differences in populations.

When is MAIC appropriate?

When individual patient data are available for one treatment but only aggregate data for the comparator, and important effect modifiers are reported. Anchored MAIC through a common comparator is generally preferred to unanchored analysis.

What is ML-NMR?

Multilevel network meta-regression extends network meta-analysis to combine individual and aggregate data across a network, adjusting for effect modifiers while preserving the network structure.

Do you follow EU JCA methodological guidance?

Yes. We design analyses in line with the HTA Coordination Group guidelines on direct and indirect comparisons, alongside NICE DSU guidance.

What is the difference between anchored and unanchored indirect comparisons?

An anchored comparison links treatments through a shared comparator arm, so it compares relative effects and respects randomisation. An unanchored comparison has no shared comparator and compares absolute outcomes, so it is treated as non-randomised evidence. EU HTA guidance and NICE DSU guidance both favour anchored methods wherever the network allows.

Should a network meta-analysis be Bayesian or frequentist?

Either can be appropriate. The HTA Coordination Group guideline lists fixed-effect and random-effects models, estimated with frequentist or Bayesian methods, as general options, and notes that a random-effects model is the appropriate choice in most practical situations, although a fixed-effect model can be justified in some. The choice should be justified for the network at hand and reported transparently, with sensitivity analyses where it affects the results.

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