Will Eli Lilly Stock Be Worth More Than Tesla Stock by 2030?

Eli Lilly (NYSE: LLY) is the most valuable healthcare company in the world, with a market cap in excess of $550 billion. It's also a growing business and one that can become even more valuable in the future. While there is a sizable gap in value between it and electric vehicle (EV) maker Tesla (NASDAQ: TSLA), whose market cap is around $700 billion, it has been shrinking. Could Eli Lilly be worth more than Tesla by the end of the decade?

This year has been a phenomenal one for Eli Lilly already. The stock is up around 60% as excitement around its diabetes drug, Mounjaro, and also its potential as a weight-loss drug has investors incredibly bullish on its prospects. This is the type of product that can be transformative and game-changing for a business. Some analysts believe it can generate up to $100 billion in revenue at its peak.

The big reason for the hype: Mounjaro may be even better than Ozempic and Wegovy at helping people lose weight. Consumers and investors are likely familiar with those two names as they have been popular on social media, with people showing off how much weight they have lost. But with Mounjaro showing in trials that it can help people lose as much as 26% of their body weight, that dwarfs the 15% that patients can expect to lose using Wegovy, which is Novo Nordisk's treatment for weight loss (Ozempic is approved for diabetes, but patients have achieved comparable weight loss with it as well). The Food and Drug Administration (FDA) hasn't approved Mounjaro to treat weight loss yet, but that could happen later this year or early 2024.

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Source Fool.com