Weight loss drugs are rewriting the global business of how we eat
A US pharmaceutical company reached a $1.5 trillion valuation last week, joining a club that up until now had been exclusively occupied by artificial intelligence businesses.
The company was Eli Lilly, which sells the weight loss drugs Mounjaro and Zepbound. Its share price surged 40 per cent after reporting that sales of the pharmaceuticals had more than doubled in the latest quarter.
Valuations over $1 trillion only happen when investors think something world-changing is going on. This is what they rightly think is happening with AI, although they’re possibly overexcited about the money to be made from it.
(To get a sense of what a trillion dollars is, consider that a million seconds ago was last week, a billion seconds ago was early…
