Eli Lilly and Company’s market value crossed the $1 trillion threshold on November 21, 2025, making the company the first drugmaker to join the exclusive club of trillion‑dollar firms. The milestone was driven by the explosive growth of its GLP‑1 portfolio, particularly the weight‑loss and diabetes drugs Mounjaro and Zepbound, which together generated $10.1 billion in revenue during the third quarter of 2025.
The company reported third‑quarter 2025 revenue of $17.60 billion, a 54% year‑over‑year increase that surpassed the consensus estimate of $16.02 billion by $1.58 billion, or 9.9%. Adjusted earnings per share rose to $7.02, beating the analyst expectation of $5.69 by $1.33, a 23.4% overrun. The earnings beat was largely a result of disciplined cost management and a favorable product mix: Mounjaro revenue grew 109% and Zepbound revenue surged 184% compared with the same period in 2024, while the company maintained a non‑GAAP gross margin of 83.6%, up 1.4 percentage points.
In light of the strong results, Lilly raised its full‑year 2025 revenue guidance to $63.0 billion–$63.5 billion, up from the previous $60 billion–$62 billion range. The company also lifted its adjusted EPS guidance to $7.02, reflecting confidence in continued demand for its GLP‑1 drugs and the ability to sustain margin expansion. Management cited the company’s expanding manufacturing capacity and the growing global obesity‑drug market—expected to exceed $100 billion over the next decade—as key factors underpinning the optimistic outlook.
The market’s reaction was swift: Lilly’s market capitalization briefly surpassed $1 trillion, a milestone that underscored investor confidence in the company’s dominant position in the obesity‑drug market and its ability to outpace competitors such as Novo Nordisk. The valuation jump was driven by the company’s ability to capture a large share of the rapidly expanding GLP‑1 segment, with Mounjaro and Zepbound now leading the market in both weight‑loss and diabetes indications.
CEO David Ricks highlighted the company’s strategic focus, stating, “Lilly delivered another strong quarter, with 54% revenue growth year‑over‑year driven by continued demand for our incretin portfolio. We are literally just scratching the surface of global treatment here. There really is a tremendous opportunity to reach tens or even hundreds of millions of more people in the coming years.” He also noted that Lilly is investing heavily in expanding manufacturing capacity for its GLP‑1 drugs.
Beyond the current quarter, Lilly is advancing its pipeline with positive Phase 3 results for the oral GLP‑1 candidate orforglipron and has secured FDA approval for the breast‑cancer drug Inluriyo. The company’s competitive advantage is reinforced by its ability to scale production quickly and maintain pricing power, positioning it to capture additional market share as the obesity‑drug market continues to grow.
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