The UK Multiple Sclerosis Risk Sharing Scheme (RSS) was established in 2002 to provide UK patients’ access to glatiramer acetate (GA) and beta interferon and included a 10-year observational study to assess the long-term effectiveness of these therapies. The objective of this analysis was to assess the clinical- and cost-effectiveness of GA using the final, 10-year data from the RSS. The primary outcome of the RSS was accumulation of disability, which was measured using the Expanded Disability Status Scale (EDSS) and as loss of utility. EDSS scores were measured annually and utility was derived using data that reported EQ5D scores for different EDSS states. A continuous Markov model was used to project the accumulation of disability in untreated patients, using natural history data from the British Columbia Multiple Sclerosis database (BCMS). Implied hazard ratios (HR; treated vs untreated) for both EDSS score and utility were calculated, with cost-effectiveness based on NHS list price (£513.95 per 28 days) and expressed as quality-adjusted life years (QALYs). A 50-year time horizon was used with a 50% treatment waning effect applied at 10 years. 755 GA and 898 BCMS patients were included in the analysis, with baseline characteristics being similar (female: 77% vs 74%, respectively; mean age at disease onset: 30.2 vs 29.2 years). GA was associated with a 16.5% (HR 83.5%) reduction in EDSS progression and 25.0% reduction in utility loss (HR 75.0%) vs no treatment. The cost per QALY for GA using the utility HR was £17,841. When nursing/infrastructure contributions were included, the cost per QALY fell to £11,220. This final, 10-year analysis of the RSS demonstrates the long-term efficacy of GA in terms of disability progression. At NHS list price, GA is highly cost-effective based on these data.