Eli Lilly Joins Tech Players In The $1T Market Capitalization Club
Synopsis
The company’s GLP-1 drugs, Zepbound and Mounjaro, have driven investor appetite and pushed its share price by about 40% this year.
Eli Lilly & Co. (LLY) hit a market capitalization of $1 trillion on Friday after its shares rose as much as 1.7% on optimism surrounding the company’s GLP-1 category of drugs.
With the rise, Lilly is now the first healthcare company to cross the $1 trillion valuation benchmark, joining technology companies including Tesla.
The company’s GLP-1 drugs, Zepbound and Mounjaro, have driven investor appetite and pushed its share price by about 40% this year. In the three months through the end of September, the company reported combined Zepbound, Mounjaro revenue of about $10 billion.
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