CNBC September 5, 2024
Earlier this month, Berkshire Hathaway topped $1 trillion in market value, the first non-tech company in the U.S. to do so. Soon, pharmaceutical giant Eli Lilly could become the first health-care company to join that club.
Why? Eli Lilly is riding the soaring demand for its injectable weight loss drug Zepbound and diabetes medication Mounjaro, which are incretin drugs that mimic hormones produced in the gut to tamp down appetite and regulate blood sugar. Revenue from Mounjaro and Zepbound now account for almost 40% of Eli Lilly’s total sales, according to its second-quarter results in August.
The company is one of two dominant players in the weight loss drug market, which some analysts believe could be worth $150...
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