Eli Lilly (NYSE: LLY) was founded in 1876 and is now one of the most valuable pharmaceutical companies in the world, defined today by the GLP-1 franchise — Mounjaro for type 2 diabetes and Zepbound for obesity — plus Kisunla in Alzheimer's.
Tirzepatide was approved as Mounjaro in 2022 and as Zepbound for obesity in 2023. Weight-loss results went well beyond anything previously available, demand outran capacity, and Lilly committed tens of billions of dollars to new injectable manufacturing in the US and Europe. The market now prices LLY like a growth company attached to a chronic-disease market that could run for a decade.
Diabetes (Mounjaro, Trulicity) is the revenue base, obesity (Zepbound) is the fastest-growing line, oncology led by Verzenio provides steady cash flow, and neuroscience and immunology — Kisunla, Omvoh, Ebglyss — are the next set of growth options.
The P/E sits far above pharma peers, Novo Nordisk and oral GLP-1 developers compete on price and convenience, Medicare negotiation and PBM rebates compress net price, and tirzepatide exclusivity ends in the 2030s.
An oral GLP-1 removes injections and cold chain, label expansion into sleep apnea, cardiovascular and kidney disease strengthens reimbursement, and new plants coming online convert supply relief into revenue.
A single breakthrough can rewrite the growth curve of a 150-year-old company — and one trial readout or reimbursement decision can de-rate a premium multiple fast. Watch quarterly scripts for Mounjaro and Zepbound, net price after rebates, and late-stage pipeline readouts.
Note: Eli Lilly pays a quarterly dividend and figures assume dividends are reinvested. Past performance is not a guarantee of future results. Data updates daily.