Eli Lilly and Company CEO Dave Ricks pictured April 2024 during the groundbreaking ceremony for Eli Lilly’s Germany-based production facility in Alzey. The company is currently riding on the popularity of its Zepbound weightloss inject and Mounjaro, which is Eli’s diabetes treatment. File Photo Provided by Ronald Wittek/EPA
Nov. 21 (UPI) — Healthcare giant Eli Lilly on Friday became the first global healthcare company to hit $1 trillion in value.
The Indiana-based company hit the $1 trillion market capitalization threshold for a brief period at roughly $1,061 a share during morning hour trading before it scaled back.
Warren Buffett’s Berkshire Hathaway was the first known non-tech company to reach the trillion-dollar valuation mark.
The company is currently riding on the popularity of its Zepbound weightloss inject and Mounjaro, which is Eli’s diabetes treatment.
Eli Lilly has long been a player in the pharmaceutical industry for more than 100 years, introducing such medication as Prozac in the early 1990s and the Humulin insulin drug.
In June, Eli revealed its billion-dollar buyout of Boston-based Verve Therapeutics to advance Verve’s new line of experimental cardiac health drugs.
Meanwhile, a medical and science expert pointed out that American citizens currently “are getting slammed by medical bills and rising care costs.”
“One in four is in medical debt. Eli Lilly just hit a $1 trillion valuation. Two realities, same healthcare system,” Dr. Carolyn Barber posted Friday on X.