Lilly shares resume upward climb on growing tirzepatide sales

Eli Lilly added $68 billion to its market cap on Thursday after reporting better-than-expected 2Q24 revenues for its tirzepatide franchise. At one point during premarket trading, Lilly was up 13% for a $95 billion market cap gain — roughly the valuation of Gilead.

Eli Lilly and Co. (NYSE:LLY) rose 9% to $845.31 on the heels of its announcement of $3.1 billion in quarterly sales for diabetes drug Mounjaro tirzepatide and $1.2 billion in sales for obesity therapy Zepbound tirzepatide. Consensus estimates were $2.4 billion and $922 million, respectively. ...