Eli Lilly & Co. became the first health-care company in history to reach a $1 trillion market capitalization on Friday, a milestone driven by extraordinary demand for its weight-loss and diabetes drugs Zepbound and Mounjaro.

Lilly briefly crossed the trillion-dollar threshold in morning trading before pulling back, with shares last seen around $1,048. Its jump places the Indianapolis-based drugmaker in an exclusive group dominated by technology giants, and makes it only the second non-tech U.S. company after Berkshire Hathaway to reach the valuation. The company’s rise has been fueled almost entirely by its GLP-1 drug portfolio, which has delivered unprecedented sales growth:

• Mounjaro: $6.52 billion in Q3 revenue — up 109% from last year
   
• Zepbound: $3.59 billion in Q3 revenue — up 184%

Both drugs have become standouts in one of the fastest-growing categories in pharmaceuticals. Lilly said demand will continue to expand as approvals broaden and insurance coverage improves. The company also expects to launch an oral version of its GLP-1 therapy next year, giving patients a more convenient alternative to injections and simplifying manufacturing.

Analysts project the market for obesity treatments (dominated by Lilly and Novo Nordisk) could exceed $150 billion by the early 2030s.Founded in 1876 by Civil War veteran and chemist Eli Lilly, the company once built its reputation on major medical breakthroughs ranging from the world’s first commercial insulin in 1923 to Prozac and early polio vaccines.

Its modern transformation began in May 2022, when regulators approved tirzepatide (now sold as Mounjaro) for diabetes. The treatment mimics two gut hormones, GLP-1 and GIP, which reduce appetite and influence how the body processes sugar and fat. By comparison, Novo Nordisk’s semaglutide (the ingredient in Ozempic and Wegovy)  targets only GLP-1.

Mounjaro reached blockbuster status within its first full year, and Lilly won approval in late 2023 for tirzepatide as an obesity treatment under the name Zepbound.

By 2024, the franchise had reshaped Lilly’s balance sheet:

• Mounjaro: $11.54 billion in annual sales
   
• Zepbound: $4.93 billion in annual sales

Despite Lilly’s explosive growth, Novo Nordisk remains a powerful competitor. Pfizer has also moved into the space, recently winning a $10 billion bidding war with Novo Nordisk for obesity-drugmaker Metsera. Still, analysts view Lilly as the dominant force in the GLP-1 era, with demand for its treatments continuing to outstrip supply globally.

Lilly’s achievement stands out in a market where trillion-dollar valuations are typically reserved for Apple, Microsoft, Google, Amazon, and Nvidia. Its ascent marks a historic moment for biopharma, and underscores how rapidly GLP-1 drugs have transformed the entire sector. With an oral therapy coming and demand at record levels, Lilly appears poised to remain the central player in the world’s fastest-growing drug category.

About Eli Lilly and Company

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical manufacturer headquartered in Indianapolis, Indiana. Founded in 1876, the company develops and commercializes innovative medicines across metabolic disease, oncology, neuroscience, immunology, and genetic medicine. Lilly introduced the world’s first commercial insulin in 1923 and has remained a leader in diabetes care for more than a century. Today, the company is best known for Mounjaro and Zepbound, two breakthrough GLP-1/GIP therapies driving rapid growth in diabetes and obesity treatment. Lilly employs tens of thousands of people worldwide and maintains a research footprint spanning the United States, Europe, and Asia.

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.