President Donald Trump purchased up to $680,000 in Eli Lilly stock earlier this year, according to ethics disclosures released on May 14. The trades, made from January to March, coincide with several government decisions that benefited the drugmaker's GLP-1 business, including progress toward Medicare reimbursement for obesity drugs.
The first of seven Lilly stock purchases occurred on Jan. 6. On Feb. 10, Trump also bought West Pharmaceutical Services stock valued between $250,000 and $500,000, a bet on the GLP-1 market as the company manufactures injectable devices for such drugs.
Key government actions during this period include: - The Centers for Medicare & Medicaid Services (CMS) proposed a pilot program called BALANCE, potentially leading to permanent Medicare reimbursement for GLP-1 drugs, with patients paying $50 per month. - The FDA intensified a crackdown on compounded GLP-1s, which are cheaper alternatives to Lilly's branded products. - In April, the FDA approved Lilly's Foundayo weight loss pill under its Commissioner's National Priority Voucher program in 50 days after filing. FDA Commissioner Marty Makary, who stepped down last week, said: "This approval demonstrates what the FDA can achieve when we eliminate delays and prioritize fast and thorough work from the agency and industry partners."
Lilly declined to comment. The Trump Organization said investments are controlled by independent brokers, and Eric Trump stated on May 15 that no family member selects individual stocks. Four of the Lilly purchases are marked "unsolicited," though the Office for Government Ethics did not clarify the term.
Lilly reported $65 billion in revenue for 2025, up $20 billion year-over-year, with GLP-1 drugs contributing substantially. The company projects over $80 billion in revenue for 2026, with analysts at TD Cowen noting: "Guidance anticipates favorable impact from Medicare coverage of obesity medications by 7/1/26."
Source: Read the original report | Published: May 18, 2026