“We are focused on building formulary access and employer opt-ins, but we expect that it will take some time before we reach broad open access in this market.”

In context

“25 co-pay card could remain in the program until June 30. Today, commercially insured patients without coverage utilize the current noncovered co-pay program and pay roughly half the list price for Mounjaro prescription. Turning to Slide 12. In November, we received FDA approval for Zepbound for adults with obesity or those who are overweight and have weight-related comorbidities. We then announced on December five that Zepbound available at U.S. pharmacies, and we started building commercial formulary access before the end of the year. We are pleased with the early access of approximately one-third of commercial lives covered as of February 1. Access in this market will be more gradual as individual employers need to opt in to coverage after the typical formulary contracting takes place. We are focused on building formulary access and employer opt-ins, but we expect that it will take some time before we reach broad open access in this market. Meanwhile, the commercial savings for our program is available at U.S. pharmacies for those who do not yet have coverage. In Medicare Part D, weight loss drugs are still prohibited from reimbursement. In Q4, we recognized $176 million in sales for Zepbound with approximately 3/4 of that coming from initial channel stocking. The initial prescription trends we have seen are encouraging. On Slide 13, we provide an update on capital allocation. Looking forward to 2024 and beyond, we have confidence in our existing commercial portfolio, bolstered by the recent launches of Mounjaro, Jaypirca, Omvoh, and Zepbound and the potential launches of the Donanemab and Lebrikizumab, all of which we expect to serve as drivers for contained growth through the balance of the decade. On Slide 14, you'll see”