Eli Lilly and Novo Nordisk shares fall as CVS opts out of Medicare obesity drug coverage
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Morgan Stanley Comments Eli Lilly (LLY) and Medicare GLP-1 Obesity Coverage
April 21, 2026 1:33 PM EDTMorgan Stanley analyst Terence Flynn reiterated an Overweight rating and $1,327.00 price target on Eli Lilly (NYSE: LLY).
The analyst comments "The broadening of Medicare coverage for the GLP-1 medications for obesity is a key driver of US market growth for LLYs Zepbound as weve previously discussed (see HERE and HERE). Recent commentary from UNH and CVS (see below; both stocks covered by Erin Wright) have raised some questions about the path to broader coverage via the CMS BALANCE program in 2027 following a 2026 bridge program (which begins July 1), which has... More
