CVS Health said it will significantly expand access to Novo Nordisk's blockbuster weight loss drug Wegovy for patients covered by its pharmacy benefit manager, Caremark. Starting July 1, Caremark will prioritize Wegovy on its standard formularies — or lists of covered drugs — making it the preferred GLP-1 drug for obesity.

Novo Nordisk Q1 sales missed estimates despite strong growth in Wegovy and Ozempic, prompting a cut to its 2025 guidance amid GLP-1 competition.

Novo Nordisk stock rose after the Danish pharma giant posted better-than-expected quarterly earnings, but cut its guidance for the year. For the full year, the company now expects sales growth between 13% and 21%.