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☆ Obesity drug Wegovy's landmark trial result could 'open up' health insurance access, analyst says
▼ + stars: | 2023-08-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Until now, some health insurers have been reluctant to cover the drug, given its high costs and a lack of data around its underlying health benefits. But the results of the latest trial data could change that. "Do I think most payers will adopt [obesity drugs] overnight because of the SELECT trial? According to the World Health Organization, global obesity rates have almost tripled over the past decade. Novo Nordisk shares soared by 17% following the release of the trial results on Tuesday.

Persons: Jim Vondruska, Peter Verdult, CNBC's, Wegovy, Verdult, Martin Holst Lange, Eli Lilly, Mounjaro, Michael Mason, Eli Lily, Lilly Diabetes, It's, Lilly, Novo, Lily Organizations: Reuters LONDON, Novo Nordisk, Citi, Novo, World Health Organization, Barclays, Citi Verdult, European Markets Authority Locations: Chicago , Illinois, Danish, U.S, Europe, London

☆ Promise around Eli Lilly's expected obesity drug, great earnings adds some $60 billion in market cap
▼ + stars: | 2023-08-08 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

(When excluding one-time divestment contributions and last year's Covid antibody revenue, Lilly's sales rose 22% on an annual basis.) Eli Lilly shares soared more than 16% to a new all-time high during Tuesday's session. LLY YTD mountain Eli Lilly's stock performance so far in 2023. Eli Lilly now expects adjusted earnings per share between $9.70 and $9.90, up significantly from the old guidance between $8.65 and $8.85. For its part, Eli Lilly is also studying Mounjaro's impact on other health outcomes including cardiovascular events.

Persons: Eli Lilly, Mounjaro, —, Jim Cramer's, Jim, Lilly's, Cheplapharm —, Lilly, Anat Ashkenazi, Ashkenazi, Eli Lilly's, Lilly Diabetes, Michael Mason, Mason, Verzenio, Trulicity, we've, David Ricks, Jim Cramer, Cristina Arias Organizations: Novo Nordisk, U.S, Amphastar Pharmaceuticals, Management, CNBC, Company, Pharmaceutical Locations: Indianapolis, North Carolina, U.S, Trulicity, Danish, Novo, Alcobendas, Madrid, Spain

☆ Obesity is a chronic disease. It's why treating it will be so profitable unless payers push back
▼ + stars: | 2023-04-30 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Lilly manufactures tirzepatide, which is sold under the brand name Mounjaro as a type 2 diabetes treatment. It's the chronic nature of obesity that will make these drugs so profitable, analysts have said. Huynh increased his target due to higher expectations for Mounjaro sales this year. Huynh boosted his prediction for the drug's sales this year to $3.7 billion from an prior estimate of $2.7 billion. "$48 billion is a monster number," Holz said, referring to an annual sales estimate that Bank of America has floated for future Mounjaro sales.

☆ Eli Lilly investors spooked by weak Mounjaro sales, but it's the obesity drug approval that will unlock its value
▼ + stars: | 2023-02-02 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

Lilly said slightly more than 50% of commercial and Part D subscribers have access to the drug via their insurance plans. But new classes of weight loss medications are helping to change this mindset. Still, legislation will be necessary to get coverage of Mounjaro for obesity and overweight treatment by Medicare plans. By law, these plans are banned from paying for weight loss medications. Wegovy and Mounjaro One encouraging sign: Lilly competitor Novo Nordisk has gained access to more than 80% of insurance company formularies for their obesity treatment, Wegovy.

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