CVS Health Inc. (NYSE:CVS) on Thursday said it is taking additional steps to lower prescription drug costs by expanding access to biosimilar medications, announcing new formulary changes that will take effect in 2026.

Beginning April 1, 2026, CVS Caremark will add osteoporosis biosimilars Ospomyv and Stoboclo, along with generic teriparatide products Bonsity and Tymlos, to major national commercial template formularies.

A drug formulary is a regularly updated list of preferred medications selected using evidence-based medicine and the judgment of physicians, pharmacists, and other experts.

The company compared the strategy to the use of generics as alternatives to branded drugs, noting that biosimilars offer safe and effective options with no clinically meaningful differences from their reference products.

Ed DeVaney, President of CVS Caremark, said the company was the first pharmacy benefit manager to remove Humira from its commercial template formulary in favor of less expensive biosimilars.

DeVaney said that the strategy has helped customers and their members generate $1.5 billion in gross savings and demonstrated the value of using formulary tools to drive competition. CVS Caremark said 96% of its client members using Humira successfully transitioned to a biosimilar.

Prolia and its biosimilar alternatives are specialty drugs dispensed by CVS Specialty. When formulary changes occur, CVS Specialty contacts both prescribers and patients to explain the update and guide them through the transition.

Price Action: CVS stock is up 1.57% at $77.53 at the last check on Friday, according to Benzinga Pro data.

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