Eli Lilly falls after CVS move to drop Zepbound reimbursement coverage
ReutersMay 1, 2025 3:21 PM
Shares of drugmaker Eli Lilly LLY.N fall 8.6% to $821.62
CVS Health CVS.N says it plans to drop LLY's obesity drug Zepbound from the list of medicines it covers for reimbursement
CVS says it would drop coverage from July 1, but keep reimbursing for rival GLP-1 weight-loss drug Wegovy after negotiating a more favorable price from Novo Nordisk NOVOb.CO
Q1 sales of Zepbound of $2.31 billion came in slightly below analysts' estimates of $2.33 billion, as per data compiled by LSEG
Co also cuts annual adj. profit forecast to between $20.78 per share and $22.28 per share from $22.50 per share to $24 per share previously
Including session's moves, LLY up 7.9% YTD
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