$Eli Lilly(LLY)$ and $Novo-Nordisk A/S(NVO)$ gained 4.6% and 1.5%, respectively, boosted by news that the Biden administration is proposing to expand coverage of weight loss drugs such as Ozempic and Mounjaro under Medicare and Medicaid, making them more accessible to millions of new patients. Shares of Amgen (AMGN) were down 4.8%, weighing on the Dow, after the biotech company reported disappointing trial results for a weight loss drug.
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