BRIEF—Lilly is first pharma group to be valued at $1 trillion
US pharma giant Eli Lilly’s weight-loss drugs have made it the first pharma company to hit a $1 trillion market valuation, a sharp turnaround from this summer when its stock was hit by disappointing results for a new obesity pill orforglipron, according to the Financial Times.
Shares in Lilly rose 1.5% yesterday in New York, having climbed 40% over the past year as it pulled ahead of its main rival, Denmark’s Novo Nordisk in the battle to dominate the obesity market.
Lilly more than doubled its sales of weight-loss drugs in the third quarter compared with the same period a year earlier after it launched in new markets. Tirzepatide-based Mounjaro, prescribed for diabetes, and Zepbound, used for weight loss, generated a combined $10.1 billion in revenue in the quarter.
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