Eli Lilly will significantly increase the price of its weight-loss drug Mounjaro in the United Kingdom in a bid to bring down prices in the United States after weeks of pressure from the Trump administration.

It comes as President Donald Trump pressures drugmakers to lower U.S. drug prices while hiking them abroad under a policy called "most favored nation."

Trump administration demands lower U.S. prices on drugs like Mounjaro, forcing the pharmaceutical company to raise them in other markets