Eli Lilly is now the largest healthcare company in the world by market value, surpassing UnitedHealth Group, Bloomberg reported July 5.
The pharmaceutical company's market capitalization surpassed UnitedHealth Group's July 5 — the first time Eli Lilly has closed above UnitedHealth Group since 2013, according to Bloomberg.
Eli Lilly's success is driven by Monjauro, its drug approved for diabetes treatment and expected to receive FDA approval for weight loss, analysts told Bloomberg. The drug is expected to net between $25 and $48 billion in sales once approved.
The company's Alzheimer's disease treatment donanemab, awaiting FDA approval, is also contributing to its increasing market value, analysts said.
UnitedHealth Group's market capitalization is down 15 percent from a record high in October 2022, Bloomberg reported. Regulatory changes to Medicare and Medicaid, scrutiny on pharmaceutical benefit managers and rising medical utilization have placed rising pressure on the health insurance industry.
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