New Delhi, Nov. 6 -- Weight loss drug makers Eli Lilly and Novo Nordisk on Thursday secured deals with the Trump administration to reduce prices for their blockbuster weight-loss drugs.

The deal was signed in exchange for tariff relief and wider access for Medicare patients.

"It's a triumph for American patients that will save lives and improve the health of millions and millions of Americans," Trump told reporters in the Oval Office.

Mike Doustdar, chief executive officer of Novo Nordisk, said in a statement that "Novo Nordisk has always worked to secure affordable access to our innovative medicines, and today's announcement will bring semaglutide medicines to more American patients at a lower cost.

Lilly Chief Executive Officer Dave...