By Kelly Cloonan
Shares of weight loss drug stocks declined in post-market trading after The Centers for Medicare & Medicaid Services said it is not finalizing a provision that would have provided coverage for anti-obesity medications.
Shares of Eli Lilly, the seller of Zepbound, were down 2.7% to $718.50 after the close on Friday. Novo Nordisk, the maker of Wegovy, saw its stock decline 1.4% to $61.67. Shares of Hims & Hers, a health and wellness platform, lost less than 1% to decline to $25.86.
CMS said it is not finalizing the provision at this time, and may address it in future rulemaking as appropriate.
Currently, anti-obesity medications are only covered under Medicare Part D for other FDA-approved indications such as Type 2 diabetes or cardiovascular disease.
The provision would have expanded coverage to about 3.4 million Medicare beneficiaries who have obesity not combined with a condition for which these medications are already covered, according to a November paper from the Health and Human Services Department.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 04, 2025 17:44 ET (21:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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