Eli Lilly became the world’s most valuable drugmaker by market capitalization during the 2020s.
Eli Lilly and Company is an American pharmaceutical company founded in Indianapolis in 1876. Its market value rose sharply as investors assessed the commercial potential of medicines including Mounjaro and Zepbound, which are associated with tirzepatide and have uses related to diabetes and weight management.
The company’s valuation reflects expectations about future sales, patent protection, clinical evidence, manufacturing capacity, and competition. Market capitalization can therefore change well before a medicine becomes the industry’s largest product by revenue.
Eli Lilly is sometimes confused with Novo Nordisk in discussions of weight-loss medicines. Both companies became major players in the field, but they sell different medicines and are separate businesses. Rankings can change with daily share prices, so a date is important when comparing pharmaceutical market values.