The monthly out-of-pocket cost of popular injections and upcoming pills could range from $50 to $350, depending on the dosage and insurance coverage.

The deal also means Medicare will start covering obesity drugs for some patients for the first time beginning next year.

The deals are among the most politically significant announcements to date in the Trump administration's efforts to rein in high U.S. drug costs.

US President Donald Trump announces agreements with drug makers Eli Lilly and Novo Nordisk.

The monthly out-of-pocket cost of popular injections and upcoming pills could range from $50 to $350, depending on the dosage and insurance coverage.

Eli Lilly and Novo Nordisk officials have agreed to lower the cost of GLP-1 obesity drugs for Medicaid and Medicare recipients and those who pay directly.

The deal, which includes Eli Lilly and Novo Nordisk, will slash prices for Medicare and Medicaid programme recipients.

Medicare will start covering obesity drugs for the first time, which could open access to millions of seniors and spur more private insurers to follow suit.