CVS to cover migraine drugs from Teva, Lilly; excludes Amgen

NEW YORK: CVS Health Corp, a top US manager of pharmacy benefits, has added new migraine drugs from Teva Pharmaceutical Industries and Eli Lilly and Co to its list of covered drugs, excluding a rival treatment from Amgen Inc, a CVS spokeswoman said.
CVS’s decision represents a setback for sales of Amgen’s Aimovig, as many patients who rely on the coverage list will now have easier access to the rival Teva and Lilly drugs.
Inclusion on the preferred drugs lists by the largest pharmacy benefit managers (PBMs) and health insurers is seen as critically important for sales of new medicines.
About 39 million Americans suffer from migraine headaches, according to the Migraine Research Foundation, and global migraine drug sales could reach $8.7 billion by 2026, according to analytics firm GlobalData.
Shares of Amgen fell 1.3 per cent to $198.27.
Teva shares traded in New York were up 1.3 per cent at $19.60, while Lilly was off 0.5 per cent at $114.36.
An Amgen spokeswoman said the company was disappointed by the CVS decision and that it would work toward Aimovig being a preferred brand on CVS coverage lists. — Reuters