Nov 21, 2025 - Business

Eli Lilly joins the $1 trillion club

Jeffrey Cane

an illustration of a scale surrounded by shapes and cutouts of money — Illustration: Tiffany Herring/Axios

Eli Lilly reached a market valuation of $1 trillion in trading Friday, becoming the 10th member of an elite U.S. club dominated by the tech behemoths.

Why it matters: Crossing the threshold underscores Lilly's emergence as the new king of the obesity drug market.

By the numbers: Shares of Lilly have risen more than 36% so far this year.

Since the launch of its flagship obesity drug, Zepbound, two years ago, Lilly's shares have risen more than 75%, Reuters notes.
Lilly is the first healthcare company and the only non-tech company other than Warren Buffett's Berkshire Hathaway (counting Tesla as tech) in the trillion-dollar club.

Zoom out: Lilly has overtaken Novo Nordisk as the leader in the obesity market.

Obesity and diabetics drugs now account for more than half of Lilly's revenue.
Two new injectable obesity drugs are in trials.

Yes, but: More competition could be in the pipeline. As Axios has reported, Roche, AstraZeneca, Merck, Amgen and Pfizer are angling for a piece of the obesity market, chiefly through acquisitions.

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Eli Lilly joins the $1 trillion club

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