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CVS Health Corp (NYSE:CVS) on Thursday revealed that its drug plans will cover the first over-the-counter birth control pill in the U.S. without charge for many health plan sponsors.
This decision holds the potential to widen access to contraception, facilitating the prevention of unintended pregnancies without the need for a prescription.
The move underscores a pivotal shift in reproductive healthcare accessibility.
Last month, pharmacy chain giants CVS Health and Walgreens Boots Alliance Inc (NASDAQ:WBA) announced plans to dispense the abortion pill mifepristone, following FDA guidelines issued last year.
Also Read: Elevance, CVS Health Are First Medicare Insurers To Cover Novo Nordisk’s Weight Loss Sensation Wegovy.
CVS Health disclosed that its pharmacy benefit manager, CVS Caremark, will incorporate the pill, dubbed Opill from Perrigo Company Plc (NYSE:PRGO), into its preventive services oral contraceptives list.
As per the update from CVS Caremark, the coverage for the pill will extend to many sponsors at zero cost, CNBC noted.
Opill became available at pharmacies starting April 1, as detailed in the pharmacy update.
In July 2023, the FDA approved Perrigo’s Opill, a progestin-only daily oral contraceptive, for OTC use for all ages.
Opill will be available at a retail price of $19.99 for a one-month supply and $49.99 for a three-month supply at most stores.
Its introduction into the market holds particular promise for segments such as younger women and those in rural and underserved communities, who often encounter obstacles in accessing birth control methods.
This development assumes significance against the backdrop of broader reproductive healthcare debates.
The erosion of abortion rights following the Supreme Court’s overturning of the landmark Roe v. Wade ruling over a year ago has intensified calls for enhanced access to birth control, making Opill’s arrival timely and impactful.
Read Next: Abortion Back In Supreme Court Showdown In Election Year, Opponents Challenge Mifepristone Safety.
Price Action: CVS shares are up 1.29% at $74.85, and PRGO stock is down 0.06% at $31.43 on the last check Friday.
Photo via Wikimedia Commons
