Eli Lilly reaches $1T market cap

Eli Lilly briefly hit $1 trillion market capitalization on Friday, making it the first healthcare company to cross the threshold.

Founded in 1876, Eli Lilly has a long history in diabetes care, introducing the world’s first commercial insulin in 1923. It gained approval in 2022 to sell the diabetes and obesity treatment drug Mounjaro.

Analysts point out that Lilly’s diabetes and weight loss drugs, Zepbound and Mounjaro, began its modern-day boom.

The company revealed that Mounjaro raked in $6.52 billion in Q3 revenue, up 109% year over year, and Zepbound drew in $3.59 billion, up 184%.

The company stock is up 36% so far this year.

With the weight loss drug market expected to exceed $150 billion by the early 2030s, Eli Lilly remains a dominant player. It also has an oral version of its GLP-1 weight loss drugs planned for release in 2026.

Rivals aren’t standing still. Ozempic maker Novo Nordisk remains Lilly’s biggest competitor, and Pfizer recently spent $10 billion to acquire obesity-drug developer Metsera.