Eli Lilly hit $1 trillion in market value on Friday, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse.
Eli Lilly and Co (NYSE:LLY) briefly reached a market capitalization of $1 trillion during trading on Friday, making it the first healthcare company to achieve this milestone. Shares of the Indianapolis-based drugmaker rose as much as 1.7% just shy of $1,060, bringing its market value to roughly $1 trillion before retreating slightly, with stock trading near $1,050 per share later in the session.
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Lilly becomes the first pharmaceutical company to hit that threshold, joining a select club of mostly tech companies.
Drugmaker Eli Lilly reached a $1 trillion market capitalization, the first health-care company in the world to join the exclusive club dominated by tech firms. The pharmaceutical giant's stock has been riding the skyrocketing demand for its weight loss injection Zepbound and diabetes treatment Mounjaro.
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Eli Lilly's stock (NYSE: LLY) has recently surged 27% over the past month, reaching a current price of $1,022. This rally is fueled by several powerful factors, including robust sales of its weight-loss drug Zepbound and diabetes drug Mounjaro, strong third-quarter financial results, and a recent government agreement regarding Medicare drug price negotiation.
Signs of a weight loss price war appeared to worry investors early Monday, and Lilly and Novo stocks were down.
Recently, Zacks.com users have been paying close attention to Lilly (LLY). This makes it worthwhile to examine what the stock has in store.
The world's most valuable healthcare stock, Eli Lilly and Company NYSE: LLY, just dropped huge news. Like Pfizer NYSE: PFE, Lilly announced a drug pricing deal with the Trump Administration.