Insurance pricing question

So I’ve gotten the PA and confirmed my insurance does cover Zepbound.

The pharmacy is giving me a price of $650 for my first fill with the manufacturer savings card. I’m on a high deductible plan and haven’t met my deductible yet so I know I will pay more until then, but does that sound correct?

Generally, I thought insurances negotiate different rates so although I am paying for the full cost, I thought it still wouldn’t be the cash pay rate?