Eli Lilly becomes the first pharmaceutical company to be worth $1 trillion...

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(Reuters) – Eli Lilly hit $1 trillion in market value on Friday, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse.

A more than 35% rally in the company’s stock this year has largely been driven by the explosive growth of the weight-loss drug market.

Once seen as a niche category, obesity treatments are now one of the most lucrative segments in healthcare, with steadily rising demand.

Novo Nordisk had the early lead in the space, but Lilly’s drugs – Mounjaro and Zepbound – have surged in popularity and helped eclipse its rival in prescriptions.

The company’s shares were up 1.3% at a record high of $1,057.7.

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