Eli Lilly's stock wobbled Thursday after a looming coverage hit was detailed for its blockbuster weight-loss drug Zepbound. CVS Health said the drugs Wegovy and Saxenda from rival drugmaker Novo Nordisk will become the preferred options on its standard formulary,

Eli Lilly on Thursday posted better-than-expected quarterly results, but CVS Health's decision to drop the company's obesity drug Zepbound from the list of medicines it covers for reimbursement dragged shares down over 5%.

Eli Lilly and Company's stock dropped 11% after CVS's Zepbound exclusion, but analysts see a mispricing opportunity. Click for why LLY growth remains strong.