Eli Lilly Becomes First Health-Care Company To Hit $1 Tln Market Value

Eli Lilly

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(RTTNews) - Eli Lilly And Co. (LLY) became the talk on Friday by briefly becoming the first healthcare company in the world to hit a $1 trillion market value.

Their shares shot up during morning trading before settling down a bit, but this achievement really highlights the impressive momentum behind their blockbuster drugs for weight loss and diabetes.

So far this year, Lilly's stock has gone up over 36 percent, thanks to the skyrocketing demand for their drugs Mounjaro and Zepbound. Mounjaro pulled in $6.52 billion in revenue for the third quarter more than double what they made last year while Zepbound brought in $3.59 billion, a jump of 184 percent.

Lilly is gearing up to launch an oral version next year, which could make these treatments even more available.

Now, they've joined Berkshire Hathaway as the second non-tech U.S. company to enter the trillion-dollar club. Their swift ascent showcases the explosive growth in the weight-loss drug market, which could surpass $150 billion by the 2030s.

Even though they're facing some challenges, rival Novo Nordisk is still a tough competitor, and Pfizer is diving deeper into the market after acquiring Metsera, a developer of obesity drugs.

As for now Eli Lilly is at the forefront of a booming industry.