The obesity duopoly has been pierced as Amgen positions itself to have a drug on the market in a few years. While this adds competition to a market currently controlled by Eli Lilly and Novo Nordisk,

Key Takeaways Eli Lilly and Novo Nordisk shares rose Tuesday after the Biden administration proposed expanding coverage of the companies' weight-loss drugs in government-backed healthcare plans.The proposal recommended drugs like Ozempic and Mounjaro be covered under Medicare and Medicaid,

Investors were excited as U.S. President Joe Biden proposed expanding coverage of anti-obesity drugs for millions on Medicare and Medicaid. Novo called the move an important step forward for patients.