700,000 new elderly patients join, Eli Lilly (LLY.US) dominates 70%: The first Medicare weight loss drug coverage report released

According to news from Zhihui Finance APP, Eli Lilly (LLY.US) CEO Dave Ricks said in an interview on Monday that since Medicare started covering obesity drugs in July, 700,000 new elderly patients have begun using GLP-1 medications, of which 70% are using Eli Lilly products.

Ricks stated that the advancement of this coverage plan is "very encouraging" and said that the expansion of the broader GLP-1 market is "exactly what we hoped for." His comments provide the latest data regarding how much Medicare coverage is improving drug accessibility and who is gaining the upper hand between Eli Lilly and its main competitor Novo Nordisk in the race for new patients.

This coverage relies on a temporary program called "Bridge," through which eligible beneficiaries can obtain weight loss drugs for a monthly out-of-pocket cost of $50. The federal insurance plan targets people aged 65 and older or those with disabilities, covering about 66 million people.

Eli Lilly’s blockbuster weight-loss injection Zepbound appears to be the biggest winner so far under federal coverage. Through this program, seniors can access Zepbound, Eli Lilly’s newly launched oral weight-loss drug Foundayo, as well as competitors Wegovy oral drugs and blockbuster injections from Novo Nordisk.

"We have secured about 70% of new patients, and many people are still using Zepbound," he said. "I think doctors are still focusing on patients with the highest weight and most complications. This is exactly where Zepbound shines."

Ricks added that for patients seeking convenient treatment options and who "may only need to lose 25 to 30 pounds," Eli Lilly’s Foundayo plays a bigger role. This oral drug launched in April, a few months after Novo Nordisk's similar product; but Ricks noted that one-third of new oral GLP-1 patients are using Foundayo.

He said he has not heard of many logistical issues arising during the implementation of the program and stated that the U.S. Centers for Medicare & Medicaid Services (CMS) "has done a great job rolling it out," educated doctors, and collaborated with both companies and the insurance system.