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,

Shares of Danish weight-loss drug maker Novo Nordisk rose 1.3% on Tuesday as U.S. President Joe Biden proposed expanding coverage of anti-obesity drugs for millions on 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.