U.S. Pharmaceutical giant Eli Lilly And Co (NYSE:LLY) is riding high on the popularity of weight loss drugs and is on the brink of becoming the world's first trillion-dollar pharmaceutical company.
According to data from Benzinga Pro, the company's market cap stood at $796.4 billion, and its enterprise value at $821.9 billion.
The stock had almost doubled since May 2022 and outpaced S&P500 and NASDAQ when the company received FDA approval for Mounjaro (tirzepatide) as an adjunct to diet and exercise for type 2 diabetes.
In November, the FDA approved tirzepatide, dubbed Zepbound, for weight loss.
In a Financial Times report, CEO Dave Ricks recalls a time when Eli Lilly was struggling. ...
