After the weight loss drug trial failed and caused the biggest single-day drop in 20 years, several executives of Eli Lilly (LLY.US) threw in 2.9 million dollars to buy the dip.

According to the Wisdom Financial APP, Eli Lilly and Company (LLY.US) CEO David Ricks and other executives recently collectively spent nearly $2.9 million to increase their holdings in the company's stock. Previously, the pharmaceutical company's stock price plummeted last week due to a rare sell-off after disappointing phase III clinical trial data for its oral weight-loss drug orforglipron.