Eli Lilly briefly became the first pharmaceutical company to reach a $1 trillion market capitalization, a milestone driven by blockbuster growth in its obesity and diabetes portfolio. The intraday valuation reflected investor confidence in sustained GLP‑1 demand and broader franchise expansion. The market milestone spotlights obesity therapeutics as a major commercial pillar and has knock‑on effects for sector valuations, M&A appetite and investor expectations for other large drugmakers. Market watchers cautioned that continued valuation strength depends on pricing, reimbursement and retention in long‑term obesity treatment. The event underscored how a small number of high‑growth therapeutic categories can reshape the sector’s market dynamics and investor narratives.