Eli Lilly will significantly increase the price of its weight-loss drug Mounjaro in the United Kingdom in a bid to bring down prices in the United States after weeks of pressure from the Trump administration.

Trump’s push for price cuts and tariffs weighs on ‘obesity franchises’, which have missed out on equity market’s rise

Lilly is still worth over $500 billion, but its market capitalisation has shed almost a third in the past year. With competition intensifying, it’s another reminder that valuations in weight-loss drugs may be losing weight of their own.