The Trump administration has officially dropped the proposal put forth by the Biden administration to expand Medicare and Medicaid coverage for obesity drugs, including high-demand anti-obesity medications like Wegovy and Zepbound. This decision has led to a significant decline in the stock prices of companies such as Eli Lilly and Novo Nordisk, who produce these drugs. The administration has stated that it will not cover weight loss medications through Medicare, halting efforts to provide broader access to these treatments for individuals struggling with obesity.