NVO & LLY Shares Down on Exclusion of Obesity Drugs From Medicare

On Friday, The Centers for Medicare & Medicaid Services (CMS) did not finalize a provision to cover obesity drugs like Eli Lilly's (LLY) and Novo Nordisk’s (NVO) popular injections, Zepbound and Wegovy, respectively, under its Part D prescription drug coverage. In other words, Medicare will not pay for the cost of these expensive weight-loss medicines.At present, Medicare does not cover Zepbound and Wegovy if they are solely prescribed for weight loss. However, CMS may consider these proposals at a later da ...