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Eli Lilly (LLY) stock is trading near its all-time highs, with the shares only about 5% away from the record levels set in August. With the shares up nearly 68% in the past 52 weeks and 58.5% year-to-date, LLY stock's outperformance has propelled the company's market capitalization to $872.9 billion, putting the pharmaceutical giant on the cusp of joining the exclusive $1 trillion club.
The company's standout success can be attributed to several key developments. Recently, Lilly scored FDA approval for its eczema drug, Ebglyss, adding another innovative treatment to their lineup. This regulatory nod came on the heels of still more positive trial results for the company's blockbuster GLP-1 drug, marketed as Mounjaro for diabetes and Zepbound for weight loss, in the treatment of sleep apnea - opening up new treatment avenues for the wildly popular drug, and potentially new roads to insurance approval, as well.
