The drug pipeline, or drugs in development, can be a window into future health care trends and challenges. The advancement of both specialty and non-specialty drugs is driven by innovation, helping to transform the health care industry.
Transforming through Innovation
Specialty drugs, including oncology drugs and gene therapies, represent groundbreaking innovations for patients. The 2025 anticipated robust drug pipeline includes 330+ new specialty drugs. Non-specialty drugs, like GLP-1s, have also contributed to the changing prescription drug landscape. Indications are expanding for GLP-1s, as some can reduce risk for cardiovascular events. Research on more indications is underway.
New medications can offer life-changing treatment, including for diseases that were previously incurable – but they can also bring soaring costs. In 2024, the median list price for new drugs from manufacturers was more than $370,000. At the same time, these drugs can also bring long-term cost savings by alleviating chronic, expensive chronic conditions. Effective cost management strategies can help make these drugs more accessible for those who need them, helping to improve health outcomes. Balancing this incredible demand and health improvement with cost concerns is a critical task over the next few years.
With so many advances in drugs in recent years and even more anticipated, understanding what’s in the pipeline is critical to make decisions to best manage costs to payers, plan sponsors and consumers.
Drug Pipeline Surveillance and Forecasting by CVS Caremark
The CVS Caremark Clinical Pipeline Services team leverages clinical and business expertise and extensive reporting capabilities to conduct regular surveillance. The team, consisting of licensed clinical pharmacists and analysts, projects cost and utilization trends for the active drug pipeline, using its robust data to identify top drugs and budget impact year-over-year.
Based on their analysis, we expect to see the following trends in Q4 2025 and in 2026:
- The first oral GLP-1 for the treatment of obesity may come to market. An oral version of semaglutide is pending FDA approval, likely in December 2025. This new format has the opportunity to increase access to GLP-1s for people looking for an alternative to injectables.
- Biosimilars continue to offer cost-management strategies. New biosimilars will help keep the market competitive while maintaining quality efficacy.
- Gene therapies are on the way. CVS Health estimates the five-year projected US gene therapy cost impact through end of 2027 to be about $42 billion. We continue to see gene therapy products in the pipeline with the potential to improve the lives of thousands of patients.
- New medications offer relief for menopause symptoms. A non-hormonal therapy option for menopause symptoms can help treat vasomotor symptoms, including hot flashes. As a growing population of women enters perimenopause and menopause, both hormone replacement therapy and non-hormonal medications that treat disruptive symptoms have the potential to change the drug utilization landscape.
Latest Drug Pipeline Research and Insights from CVS Caremark
Learn more about CVS Caremark’s perspective on the drug pipeline, its latest research and industry summaries:
- Pipeline Drugs to Watch Report, containing the launches to watch for Q4 2025
- Gene Therapy Report, projecting treatments and timelines over the next three years
These insights help clients develop benefits designs that meet their members’ needs and help them manage rising costs, while making sure members have access to the treatment they need to live their healthiest lives.
Read more about the CVS Caremark approach to pipeline surveillance.
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