Eli Lilly and Company ($LLY), a pharmaceutical manufacturer known for its weight-loss drugs, has surpassed Tesla ($TSLA) in market value. Eli Lilly is now worth approximately $600 billion, eclipsing Tesla's market value which has fallen about 25% since the start of the year. The rise in Lilly's shares is attributed to the anticipated treatments that promise more weight-loss potential, fewer side effects, and additional health benefits. This surge in value reflects a broader investor trend favoring sectors like artificial intelligence and GLP-1 weight loss drugs. Analyst Joon Lee from Truist Securities encapsulated the sentiment with the phrase 'just buy Lilly' (JBL). The weight-loss drug industry, which includes drugs like Ozempic and Wegovy, has been a significant growth sector, turning companies like Novo Nordisk into major players in Europe. However, Eli Lilly's newest drug is expected to significantly impact the market, potentially challenging the dominance of existing products. Bloomberg previously reported Eli Lilly's market value overtaking Tesla.
The success of weight loss drugs like Ozempic and Wegovy has turned Novo Nordisk into Europe's biggest company. But Eli Lilly's newest drug could take a big bite out of the market https://t.co/PbYykEOdw3 https://t.co/bMu5rfYhUW
Kentucky had the highest prescribing rates for drugs like Ozempic and Wegovy last year. Here's where else weight-loss prescriptions are taking off: https://t.co/FbiPYPNKC4
The $100 billion-plus weight loss drug industry is still primed for growth — just not at the expense of medical device and food and beverage stocks. https://t.co/7cuNPIeo7N
The success of weight loss drugs like Ozempic and Wegovy has turned Novo Nordisk into Europe's biggest company. But Eli Lilly's newest drug could take a big bite out of the market https://t.co/okIaZ4F3IC https://t.co/5tS6JEw9XC
State employees in North Carolina will no longer have insurance coverage for weight-loss medications like Wegovy and Zepbound, starting April 1. Medications like Wegovy cost the state $100 million last year. https://t.co/2EpWtaFKL5
Wow. $TSLA now has a lower market cap than Lilly, the weight-loss drug manufacturer https://t.co/zbqScOFIAQ
"Lilly [ $LLY] overtaking Tesla, to the extent it has any meaning at all, points to a future in which fund managers consider treating obesity & Alzheimer’s disease to be a better use of capital than making cars that sometimes don’t work when it’s cold, which would benefit biotech… https://t.co/HZEBbP5aXJ
Reading @damiangarde & @statnews newsletter The Readout & saw this tidbit: as of yesterday, Eli Lilly overtakes Tesla in market value (news was reported in Bloomberg yesterday & the newsletter included link to that story). https://t.co/xfq7baMVcV
Eli Lilly is now worth about $600 billion, eclipsing Tesla, which has fallen about 25% since the start of the year. @damiangarde has one thought in today's Readout newsletter. https://t.co/6rAumJt5dv
A sign of the times: A company behind a new class of weight loss drugs has surpassed Tesla in market value "Right now, the trends that are really gripping investors are artificial intelligence and GLP1 weight loss drugs.” https://t.co/fvuDH13Cw0
A sign of the times: Eli Lilly is worth more than Tesla. 💉🚙 https://t.co/sFk6OsHoAM
Lilly’s shares have kept rising on expected treatments that will offer more weight-loss potential, fewer side effects and other health benefits. Joon Lee, an analyst at Truist Securities, says that the motto among investors is “JBL,” or “just buy Lilly.” https://t.co/m4GJhX6osb
Weight-Loss Drugmaker $LLY Surpasses $TSLA in Value After $85 Billion Wipeout https://t.co/BBUvDCjtDu