Shares of Eli Lilly and Company (NYSE: LLY) have soared nearly 35% so far in 2024 and are only a few points away from doubling over the last 12 months. The company reigns as the biggest drugmaker in the world based on market cap. It's also the largest company in the entire healthcare sector.

But has Lilly peaked? I don't think so. Here's why Lilly stock remains a screaming buy.

The expression "selling like hotcakes" might need to be changed to "selling like Mounjaro and Zepbound." Lilly can't make enough of its type 2 diabetes and weight loss drugs to keep up with demand -- and that's after significantly ramping up its production capacity.

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Source Fool.com