Stock market, stellar profits with anti-diabetes drugs: Eli Lilly richest company

Eli Lilly, number one in stock market value in 2023

After the search for vaccines against Covid made two or three pharmaceutical companies rich in the past years (primarily the USA), the drug market now seems to have stabilized and is rewarding some historic Big Companies with a heterogeneous portfolio of old and new products.

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This is the case of Eli Lilly, founded by the colonel of the same name and located in Indianapolis. In 2023 it presented a record turnover and is now the number one Big Pharma in terms of stock market capitalisation. This is also thanks to two successful “blockbusters” against diabetes and obesity. Turnover, which grew by 20% compared to the previous year, reached 34,124.1 million dollars. And a good part of this result came from Trulicity and Mounjaro, two very successful drugs. Mounjaro's sales exploded from 480 million in 2022 to 5,163 million in 2023.

With the same active ingredient the Group has placed on the market Zepbound, credited to become the best-selling drug in history. Mounjaro is in such strong demand that supply problems are arising.

Eli Lilly, drugs for obesity and diabetes

Zepbound, the new born, approved for overweight or obese patients with complications such as hypertension, type 2 diabetes, dyslipidemia, obstructive sleep apnea or cardiovascular diseases, seems to be on its way to great success. A great competitor to Novo Nordisk's rivals Ozempic and Wegowy. In the fourth quarter, profit grew 13% ($2,189.6 million) with sales forecasts ranging from $40.4 billion to $41.6 billion, which exceeds analysts' most optimistic forecasts.

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The shares are on the same trend, having grown 6 times in the last five years. The Group is worth 670 billion dollars on the stock market (150 billion dollars for Pfizer). The obesity market is gigantic. Only in the USA, according to the FDA, About 70% of American adults are obese or overweight, and many suffer from a related disease. Both Lilly and Novo Nordisk are struggling to meet the huge demand.

“2023 was a breakthrough year for Lilly, bringing life-changing medicines to more patients than ever before, resulting in strong revenue growth,” said David A. Ricks, president and CEO of Lilly adding that “We are expanding our portfolio of new medicines for serious diseases and creating new partnerships to expand this portfolio. As we enter 2024, we are focused on helping solve some of the world's most challenging healthcare problems and improving the lives of millions of patients.”