PBMs & Biosimilars
CVS to drop Johnson & Johnson’s Stelara from key drug lists
By Intent.Health Team • May 5, 2026
What’s happening
CVS Health said it will remove Stelara (by Johnson & Johnson) from its main formularies starting July 1, favoring lower-cost biosimilars instead.
What’s changing / Business impact
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Shift toward biosimilars over branded biologics.
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Pressure on: blockbuster drug revenues and pharma pricing power.
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Pharmacy benefit managers (PBMs) gaining stronger control over drug selection.
Why this matters
This is a direct pricing + access shift at the payer/pharmacy layer.
It shows:
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Cost control is happening through formulary decisions, not just policy.
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Biosimilars are finally becoming real competitive threats.
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Access to drugs depends on payer decisions, not just approvals.