CVS Will Not Cover Viagra Anymore

(RTTNews) - CVS Health (CVS) said that from next year, it will not be covering viagra and treatments for a range of disorders and diseases, including diabetes and multiple sclerosis, but instead will offer equivalent and cheaper medicines that fall under its insurance plan.

Viagra, the erectile dysfunction drug from Pfizer (PFE), is part of 31 prescription medicines CVS is removing from its list of covered drugs for 2016.

So customers on Viagra will be offered Eli Lilly (LLY)'s Cialis, CVS said.

And for those who wish to buy Viagra and the other drugs being phased out, the medicines will be sold at CVS Pharmacies but without the benefits of coverage.

Viagra is the world's first approved pill for erectile dysfunction, with U.S. annual sales of $1.3 billion.

Other drugs off the CVS list are: Biogen (BIIB)'s multiple sclerosis treatments Avonex and Plegridy; Johnson & Johnson (JNJ)'S diabetes drugs Invokana and Invokamet, Vivus (VVUS)'s weight loss drug Qsymia; and diabetes drug Bydureon, manufactured by Amylin Pharmaceuticals and commercialized by Astrazeneca (AZN, AZN.L).

Pharmacy benefit managers like CVS and Express Scripts (ESRX) streamline their list of medications under coverage, amid rising cost of new drugs and the need to factor in a healthy pricing formula.