CVS Health Corp.’s drug-benefits unit negotiated a deal to make Novo Nordisk A/S’s Wegovy more widely available to its members, a blow to rival Eli Lilly & Co.’s Zepbound that was moved off the company’s list of preferred drugs.

Starting on July 1, Wegovy will become the preferred GLP-1 for obesity treatment on CVS Caremark’s largest commercial template formularies, Novo said Thursday. CVS Caremark, which forms the eponymous pharmacy chain’s drug benefits unit, is the largest pharmacy benefit manager (PBM) in the United States, as Novo pointed out.

Eli Lilly’s stock wobbled Thursday after a looming coverage hit was detailed for its blockbuster weight-loss drug Zepbound