CVS Health Inc. (NYSE:CVS) said Thursday it is taking additional steps to reduce prescription drug costs by expanding access to biosimilar medications, and announced new formulation changes that will take effect in 2026.
Beginning April 1, 2026, CVS Caremark will add the osteoporosis biosimilars Ospomyv and Stoboclo, along with the generic teriparatide products Bonsity and Tymlos, to the major national commercial template formulations.
A drug formulary is a regularly updated list of preferred medications, selected based on evidence-based medicine and the judgment of physicians, pharmacists, and other experts.
The company likened the strategy to using generics as an alternative to brand-name drugs, noting that biosimilars provide safe and effective options without clinically meaningful differences from their reference products.
Ed DeVaneypresident of CVS Caremark, said the company was the first pharmacy benefits manager to remove Humira from its commercial template formulary in favor of lower-cost biosimilars.
DeVaney said the strategy has helped customers and their members generate $1.5 billion in gross savings and demonstrated the value of using formulary tools to drive competition. CVS Caremark said 96% of customers taking Humira successfully switched to a biosimilar.
Prolia and its biosimilar alternatives are specialty medications provided by CVS Specialty. When changes to the formulation schedule occur, CVS Specialty will contact both prescribers and patients to explain the update and guide them through the transition.
Price promotion: CVS shares are up 1.57% to $77.53 at last check on Friday, according to data from Benzinga Pro.
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