The weight-loss industry that fueled one of Wall Street’s most popular ETF themes may finally be going on a crash diet.
ETFs loaded with exposure to obesity-drug titans Eli Lilly And Co (NYSE:LLY) and Novo Nordisk A/S (NYSE:NVO) are tottering after President Donald Trump pledged to reduce the price of top-selling GLP-1 medication such as Ozempic and Zepbound — the same names that drove pharma portfolios to all-time highs. Both stocks are down around 3% on Friday.
