Eli Lilly, Novo Nordisk lower after CBO analyst comments on obesity drugs

Covering weight-loss drugs at their current prices would cost U.S. health programs more than the savings seen from the medications’ benefits, Noelia Duchovny, a Congressional Budget Office analyst, said in a U.S. National Academies workshop, Bloomberg reports. “CBO expects that at their current prices, (anti-obesity medications) would cost the federal government more than it would save from reducing other health-care spending – which would lead to an overall increase in the deficit over the next 10 years,” Duchovny said, according to Bloomberg. “CBO is not aware of empirical evidence that directly links the use of AOMs to reductions in other health-care spending,” the analyst added. Shares of Eli Lilly (LLY) are down $4.10 to $768.75 following the comments while Novo Nordisk (NVO) is down 49c to $130.88.