Indianapolis-based Eli Lilly is the first publicly traded U.S. healthcare company to reach market capitalization over $1 trillion, elevating the drugmaker to an exclusive list dominated by tech giants.
Eli Lilly’s shares peaked Nov. 21, giving the pharmaceutical company market capitalization above $1 trillion before slightly dipping to $950 billion, according to The Wall Street Journal and market capitalization rankings.
The 150-year-old drugmaker is one of the world’s leading GLP-1 manufacturers, as its weight loss drug Zepbound and Type 2 diabetes medication Mounjaro could become the nation’s top-selling drugs this year. In 2024, the drugs cost the U.S. healthcare industry $31.7 billion.
In early November, Eli Lilly announced an agreement with the Trump administration to apply most-favored-nation pricing to Mounjaro and Zepbound. The other GLP-1 powerhouse, Denmark-based Novo Nordisk, struck a similar deal for Ozempic and Wegovy.
As of Nov. 24, the top 10 U.S. publicly traded companies by market capitalization are: Nvidia (a graphics processing unit developer) at $4.34 trillion, Apple at $4.03 trillion, Alphabet (Google) at $3.62 trillion, Microsoft at $3.51 trillion, Amazon at $2.36 trillion, Broadcom (a semiconductor and software manufacturer) at $1.61 trillion, Meta Platforms (Facebook) at $1.5 trillion, Tesla at $1.3 trillion, Berkshire Hathaway (a conglomerate holding company) at $1.1 trillion, and Eli Lilly at $950 billion.
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