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Eli Lilly CEO David Ricks discusses GLP-1s and Medicare coverage
CNBC • • business
Key Points:
- Since Medicare began covering obesity drugs in July, 700,000 new seniors have started GLP-1 treatments, with 70% of these patients using Eli Lilly's medicines, according to CEO Dave Ricks.
- The Medicare "Bridge" program allows eligible seniors and disabled beneficiaries to access weight loss drugs for a $50 monthly co-pay, covering about 66 million people.
- Lilly's injection Zepbound is the leading medication among new Medicare patients, especially for those with significant weight and complications, while the oral pill Foundayo is popular among patients seeking convenience and moderate weight loss.
- Ricks praised the Medicare rollout as smooth and effective, highlighting successful coordination by the Centers for Medicare and Medicaid Services in educating physicians and integrating with insurance systems.
- Novo Nordisk remains a key competitor with its Wegovy injection and pill, but Lilly is currently capturing about 70% of the new patient market under Medicare coverage.
