Eli Lilly
How Eli Lilly discovered its diabetes drug also treated obesity and doubled its addressable market overnight.
In 2022, Eli Lilly had Manjaro. It controlled blood sugar in diabetics. Researchers noticed something unexpected. The drug worked for obesity. Patients taking Munjaro lost weight. One drug addressed two diseases. The addressable market doubled overnight. 50 million diabetics became 100 million potential patients immediately. Munjaro achieved extraordinary results. Patients lost 30% of body weight. Competitors had nothing comparable. Insurance covered it for diabetes. Monthly cost exceeded $1,000 per patient. Eli Lilly sold hundreds of millions of doses yearly. Revenue exceeded $3 billion from this single drug class within three years of approval. By 2024, Eli Lilly became the most valuable pharmaceutical company with market cap exceeding 700 billion.
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