CVS Health said it will significantly expand access to Novo Nordisk's blockbuster weight loss drug Wegovy for patients covered by its pharmacy benefit manager, Caremark. Starting July 1, Caremark will prioritize Wegovy on its standard formularies — or lists of covered drugs — making it the preferred GLP-1 drug for obesity.

The deal could expand access to its in-demand obesity drug at the expense of Eli Lilly, whose shares fell by double digits on Thursday.

Novo Nordisk said on Tuesday it was working with telehealth firms Hims & Hers , Ro and LifeMD to sell Wegovy, as it looks to stem sales of copies of its popular weight-loss drug and expand access to cash-paying patients.