CVS Restores Coverage for Eli Lilly Weight-Loss Drug Zepbound
CVS Restores Coverage for Zepbound
CVS Health announced it will once again include Eli Lilly's weight-loss drug Zepbound in its coverage starting October 1. After removing the drug last year in favor of more favorable pricing for Novo Nordisk's Wegovy, the company aims to improve customer access to GLP-1 medications at more affordable prices.
CVS Caremark Statement
CVS Caremark stated that Zepbound will rejoin its list of preferred drugs. The company emphasized that collaboration with pharmaceutical companies is making this in-demand drug class more accessible.
Popularity of GLP-1 Drugs
GLP-1 weight-loss drugs such as Eli Lilly's Zepbound and Novo Nordisk's Ozempic and Wegovy have surged in popularity in recent years. However, their high prices remain out of reach for many consumers. CVS said negotiations have led to increased affordability and access.
Foundayo Block Removed
CVS also removed its new-to-market block on Foundayo, Eli Lilly's new oral GLP-1 treatment. Plan sponsors have the flexibility to customize coverage for their members.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
CVS Health Corporation
CVS expands its formulary to include Zepbound, potentially attracting more customers and improving negotiating power with drug manufacturers, which could positively impact its pharmacy benefit management revenues.
Eli Lilly and Company
Eli Lilly's Zepbound regains coverage by CVS, increasing patient access and likely boosting sales. Additionally, the removal of the block on Foundayo facilitates market entry for its new oral GLP-1 drug, supporting future growth.
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