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."

Eli Lilly will raise the UK list price of its weight-loss treatment Mounjaro by up to 170%, it said on Thursday, amid a White House push to get drugmakers to raise medicine prices in Europe to allow for price cuts in the United States.