The popular diabetes and weight loss medication, LLY.US, will have its price reduced by over 20% in Canada, effective December 29th.

According to reports, Eli Lilly & Company (LLY.US) will significantly reduce the prices of its two popular diabetes and weight loss drugs - Mounjaro and Zepbound - in Canada by 20% or more. After the adjustment, the list prices of these two drugs in the Canadian market will be as follows, based on a four-week supply: the prices of the 2.5mg and 5mg strengths will be reduced to 300 Canadian dollars (approximately 217 US dollars); and the prices of the higher strengths of 7.5mg and 10mg will be reduced to 420 Canadian dollars. The new prices will officially take effect on December 29th. Eli Lilly has not immediately responded to requests for comment outside of working hours. Earlier this month, Eli Lilly had already lowered the price of the single bottle of the weight loss drug Zepbound in the United States to improve affordability for American patients. The stock closed down more than 1% on Wednesday, at 1041.79 US dollars.