Shares of Eli Lilly (LLY) and Novo Nordisk (NVO) are moving higher after the Washington Post reported that Medicaid programs and Medicare Part D insurance plans will experiment with covering weight loss drugs Ozempic, Wegovy, Mounjaro and Zepbound for “weight management” purposes. Shares of Eli Lilly are up 3% to $759.41 in morning trading while Novo is up 2% to $48.08.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LLY:
- Medicare to cover weight loss drugs in experiment, Washington Post says
- Positive Outlook for Eli Lilly & Co. Amid Key Trial Outcomes and Earnings Projections
- Eli Lilly (LLY) Bulls Prepare for Multiyear Upside
- Trump posts letters calling on drug company CEOs to lower prices
- Press Secretary says Trump sent letters today to pharmaceutical companies