The two biggest weight-loss drugmakers have lost $252bn in value this year, as investor enthusiasm for obesity treatments wanes and Donald Trump’s tariff and price-cut threats weigh on the pharmaceutical sector.

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.

Pharma giant Eli Lilly said it is negotiating to raise drug prices in Europe, starting in the U.K. with the weight-loss drug Mounjaro, so that it can comply with the Trump administration’s goal of bringing down prices in the U.S.