'Hyperinflationary' drugs removed from CVS Health's 2017 formulary

US pharmacy benefits manager CVS Health (NYSE: CVS) is to remove 35 products from its formulary - the list of drugs it supplies – in 2017.

The affected products – which include cancer and diabetes drugs – are excluded as part of CVS Health’s drive to contain costs and embrace biosimilars and follow-on biologics which replace more expensive medicines.

In publishing its standard formulary list of removals and updates, CVS Health describes containing cost as "essential at a time when escalating drug prices as well as the introduction of new costly therapies are creating significant challenges to the affordability of health care.”