CVS strikes Wegovy deal with Novo Nordisk (BioPharma Dive)

CVS Health’s Caremark PBM struck a major deal with Novo Nordisk to give Wegovy preferred formulary access over Eli Lilly’s Zepbound, shifting market momentum in the GLP-1 weight loss drug space. Starting July 1, Wegovy will cost less for Caremark clients, while Zepbound may see limited coverage. The move could drive volume for Wegovy, CVS Pharmacy, and Caremark’s weight management program. Novo Nordisk shares rose 2%, while Eli Lilly’s dropped over 11%. Eli Lilly downplayed the deal, emphasizing its focus on direct consumer relationships over PBM contracts.