Eli Lilly stock drops as Trump nominates obesity-drug critic RFK Jr. for health role

Eli Lilly's stock fell over 4% following President-elect Donald Trump's nomination of Robert F. Kennedy Jr. as Secretary of Health and Human Services. Kennedy is known for his criticism of obesity drugs, raising concerns about potential changes in health policy. Kennedy's nomination creates uncertainty for the pharmaceutical industry, particularly for companies like Eli Lilly and Novo Nordisk, which dominate the obesity drug market. Analysts are cautious as they await clarity on Kennedy's Senate confirmation prospects. Kennedy has previously argued against the pharmaceutical industry's practices, advocating for dietary changes over drug treatments for obesity. This stance contrasts with Eli Lilly's position that obesity should be treated as a disease, supported by their GLP-1 drug offerings.