Weight-loss drug boom propels Eli Lilly to $1 trillion
Eli Lilly has become the first healthcare company to reach a market value of $1 trillion, joining the ranks of Nvidia and Amazon, as GLP-1 weight loss treatments become increasingly common among American adults.
The manufacturer of Zepbound and Mounjaro temporarily reached the market capitalization milestone on Friday before losing value. Berkshire Hathaway is the only other non-tech company to reach $1 trillion.
As of 11:10 a.m. ET, Eli Lilly was trading at $1,049.98. Year to date, Eli Lilly shares are up more than 36%. The pharmaceutical company’s revenue rose 54% last quarter to $17.6 billion, driven by its GLP-1 weight loss and diabetes drugs. It increased its full-year 2025 revenue forecast by $3.5 billion, for a total of $63.5 billion.
A mid-November survey found that 13 percent of adults in the United States use the latest class of weight-loss drugs, an increase of six percentage points from 18 months ago. One in five (18%) adults in the United States say they have ever used a weight-loss medication, while another one in five adults said they would be interested in using one of these medications to lose weight.
A new deal with the Trump administration in early November also opened Eli Lilly to new markets. The company, along with its main competitor Novo Nordisk, agreed to reduce the cost of their GLP-1 drugs in exchange for partial coverage by Medicare.
However, unlike Eli Lilly’s high, Novo Nordisk was down on Friday. Its stock was trading at $47.51 per share with a market value of $210.95 billion. Eli Lilly’s market value is around $947 billion.
Quartz reached out to Eli Lilly for comment on its milestone. The pharmaceutical company said it “remains focused” on its “commitment to scientific breakthroughs and strategic investments to fuel a robust pipeline that meets patient needs.”
Just days before Eli Lilly’s ramp-up, Novo Nordisk announced an introductory price of $199 per month over two months for U.S.-based cash buyers of Ozempic and Wegovy, and lowered the “standard” price for existing cash buyers from $499 to $349 per month to remain competitive.
Eli Lilly’s Zepbound sells on the LillyDirect platform for $299 per month for the lowest dose. It charges $449 per month for its highest doses, while Novo Nordisk charges $499 for its highest dose.
Eli Lilly’s industrial dominance is unlikely to end there. Besides having a major market value lead over its competitors, the pharmaceutical company plans to expand its grip on the booming weight-loss industry with a much-anticipated diet pill.
— Catherine Arnst contributed to this article.
