Eli Lilly’s stock wobbled Thursday after a looming coverage hit was detailed for its blockbuster weight-loss drug Zepbound.

CVS Health Corp.’s drug-benefits unit negotiated a deal to make Novo Nordisk A/S’s Wegovy more widely available to its members, a blow to rival Eli Lilly & Co.’s Zepbound that was moved off the company’s list of preferred drugs.

Adding to the pressure is that CVS Health has retained coverage of Zepbound's arch rival Wegovy (semaglutide), sold by Novo Nordisk, after negotiating a price cut with the company, along with Novo Nordisk's newly forged alliances with three leading telehealth companies to drive self-pay sales of its weight loss drug.