Weight-loss drug boom propels Eli Lilly to $1 trillion

Eli Lilly became the first healthcare company to hit a $1 trillion market value, joining the ranks of Nvidia and Amazon, as GLP-1 weight-loss treatments become more common among U.S. adults.

The maker of Zepbound and Mounjaro momentarily hit the market-cap milestone on Friday before dropping down in value. Berkshire Hathaway is the only other non-tech company to hit $1 trillion.

As of 11:10 a.m. ET, Eli Lilly traded at $1,049.98. So far this year, Eli Lilly’s stock has risen more than 36%. The pharma company’s revenue grew last quarter by 54% to $17.6 billion, thanks to its GLP-1 weight loss and diabetes drugs. It pushed its 2025 full-year revenue guidance up by $3.5 billion, totaling $63.5 billion.

A survey from mid-November found that 13% of adults in the U.S. are using the latest class of weight-loss drug — a six percentage point rise from 18 months prior. And one in five adults in the U.S. (or 18%) say they’ve used a weight-loss drug before, while another one in five adults said they’d be interested in using one of the drugs for weight loss.

A new deal with the Trump administration earlier in November also opened Eli Lilly to new markets. The company, along with its main competitor Novo Nordisk, agreed to lower the cost of their GLP-1 drugs in exchange for partial Medicare coverage.

However, in contrast to Eli Lilly’s high, Novo Nordisk was down Friday. Its stock was trading at $47.51 a share with a market value of $210.95 billion. Eli Lilly’s market value is sitting around $947 billion.

Quartz reached out to Eli Lilly for comment on its milestone. The pharmaceutical company said it “remains focused” on its “commitment to scientific breakthroughs and strategic investments to fuel a robust pipeline that meets patient needs.”

Just days before Eli Lilly’s market climb, Novo Nordisk announced a two-month introductory price of $199 a month for U.S.-based cash buyers of Ozempic and Wegovy, plus lowered the “standard” price for existing cash buyers to $349 a month from $499 to stay competitive.

Eli Lilly’s Zepbound sells on the LillyDirect platform for $299 a month for the lowest dose. It charges $449 per month for its highest doses, while Novo Nordisk charges $499 for its highest dose.

Eli Lilly’s industry domination is unlikely to stop here. Aside from the fact that it’s got a major lead in market value ahead of its competitors, the pharma company is planning on expanding its grip on the booming weight-loss industry with a highly anticipated weight-loss pill.

— Catherine Arnst contributed to this article.