OBJECTIVES: Ozurdex (dexamethasone 700 µg intravitreal implant in applicator) was the first licensed pharmacotherapy for macular oedema following branch retinal vein occlusion (BRVO) in the UK; however unlicenced use of Bevacizumab given by intravitreal injection was considered a potential comparator for economic evaluation. No head to head RCTs exist to compare outcomes; a mixed treatment comparison (MTC) was performed to synthesise available data. METHODS: A lifetime cost-utility model was produced with a treatment period of up to 3 years. Patients received an average of 9.96 bevacizumab or 2.24 Ozurdex treatments, 75% of which were costed based on a day case setting. Efficacy was measured in terms of letters gained on the Early Treatment of Diabetic Retinopathy Study (ETDRS) chart. This was estimated from an MTC where the network of evidence included comparisons of Ozurdex versus observation, observation versus grid laser and grid laser versus bevacizumab. QALYs were calculated from the letters gained using a coefficient obtained from regression analysis predicting the Visual Function Questionnaire Utility Index (VFQ-UI) score from BCVA.  Differences in AE profiles were accounted for within the analysis. RESULTS: The day 180 results of the MTC indicated a difference (p=ns) in BCVA of 1.74 letters (95% CI -9.57 to 6.19) favouring bevacizumab; MTC Results at day 60 show this trend to be reversed. The analysis also demonstrated that an Ozurdex based regimen is less costly than a bevacizumab regimen making the ICER difficult to interpret. Therefore net monetary benefit (NMB) was calculated to demonstrate an NMB of Ozurdex vs. bevacizumab (based on day 180 results) of £2,228 at a willingness to pay per QALY of £20,000,  robust to sensitivity analyses. CONCLUSIONS: The results of this analysis indicate that Ozurdex is a cost-effective treatment for macular oedema following BRVO when compared with bevacizumab, from a UK NHS perspective.