Millions of Americans could soon have access to weight-loss medications that some have called "miracle drugs."

Eli Lilly and Novo Nordisk shares rose Tuesday after the Biden administration proposed expanding coverage of the companies' popular weight-loss drugs in government-backed healthcare plans including Medicare and Medicaid.

The Biden administration wants to expand coverage of anti-obesity medications to millions on Medicare, Medicaid.

President Joe Biden’s proposal to have GLP-1 weight-loss drugs such as Wegovy, Ozempic, Zepbound and Mounjaro covered by Medicare and Medicaid would help tackle the public-health crisis of obesity, but it would raise the costs for the government programs by billions of dollars per year.

The Biden administration called for Medicare and Medicaid to cover popular drugs that help people lose weight but are not affordable for many Americans who might benefit from them. NBC News' Stephanie Gosk reports.

Under a new proposal from President Biden, weight loss drugs would be covered by Medicare and Medicaid. NBC News medical contributor Dr. Natalie Azar joins José Díaz-Balart to provide insight on who would benefit from the expanded coverage and what the approval process would look like.