Eli Lilly Becomes First Health Giant to Hit $1 Trillion

Eli Lilly made history on Friday, becoming the world’s first health-care company to reach a $1 trillion market valuation — a milestone long dominated by tech giants. The stock briefly crossed the landmark level in morning trading before settling slightly lower, last hovering around $1,048 a share.

The Indianapolis-based drugmaker has seen a 36% surge in its share price this year, fueled by explosive demand for its weight-loss and diabetes medicines, Mounjaro and Zepbound. Investors have been quick to reward the company’s momentum in the fast-growing GLP-1 drug market, where Lilly has pulled ahead of its closest competitor, Novo Nordisk.

The company’s latest earnings highlighted the scale of this boom. In the third quarter, Mounjaro generated $6.52 billion in revenue, more than double the previous year, while Zepbound reached $3.59 billion, marking a 184% jump year over year. With expanded approvals and widening insurance coverage, demand is expected to accelerate further.

Lilly is also preparing to introduce an oral version of its GLP-1-based treatment next year, a move that could broaden access for patients who prefer pills over injections — and ease production challenges linked to the wildly popular injections.

Analysts estimate the global weight-loss drug market could exceed $150 billion by the early 2030s, positioning Lilly as a long-term heavyweight. Yet competition remains active. Novo Nordisk continues to refine its own lineup, and Pfizer recently re-entered the race by winning a $10 billion bidding battle for obesity drugmaker Metsera.

For Lilly, the breakthrough builds on nearly 150 years of pharmaceutical innovation. Founded in 1876 by Eli Lilly, a Civil War veteran and chemist, the company introduced the world’s first commercial insulin in 1923 and later delivered blockbuster therapies like Prozac and an early polio vaccine.

The approval of tirzepatide — the key ingredient behind Mounjaro and Zepbound — in 2022 marked a turning point. Unlike Novo Nordisk’s semaglutide, which targets only GLP-1, tirzepatide mimics two gut hormones: GLP-1 and GIP, amplifying effects on appetite control and metabolic processing. Mounjaro hit “blockbuster” status in its first full year and has since reshaped the treatment landscape for diabetes and obesity.

By 2024, Mounjaro recorded $11.54 billion in annual revenue, while Zepbound brought in $4.93 billion, cementing their role in pushing Lilly into trillion-dollar territory.

With demand still outpacing supply and new formulations on the horizon, Lilly’s rise shows no signs of slowing — and its brief but symbolic touch of the trillion-dollar mark signals a powerful shift in how the market values health-care innovation.