CNBC’s Jim Cramer said Wednesday that Eli Lilly will soon become the first drug company to reach a $1 trillion stock price. Immediately after that, the stock price exceeded $1,000 for the first time. At trading highs, the market capitalization exceeded $950 billion. To reach $1 trillion, the stock would need to reach nearly $1,058. “People are starting to realize that there’s probably more value to this,” Kramer said in “Squawk on the Street.” He pointed to the White House’s recent GLP-1 agreement with Lilly and rival Novo Nordisk that will reduce the price of some obesity drugs for Medicare and Medicaid recipients in 2026. This will make Lilly’s blockbuster weight loss drug available to more people. The active ingredient in Lilly’s obesity treatment Zepbound injection is tirzepatide. Eli Lilly is working on a tablet version containing a similar active ingredient called orforglipron. “Once we get it in pill form, I think we’re going to see tremendous sales,” Cramer said Wednesday during a morning meeting for members of the CNBC Investment Club. He says people prefer pills to shots. In addition, manufacturing tablets is much easier. Lilly CEO David Rix said the company hopes to launch Orforglipron in the second half of 2026. Wall Street echoed Kramer’s bullish comments on Lilly’s weight-loss drug promise. Citi analysts said the company is “fully committed” to developing the pill and raised their 2026 pill sales forecast to $1.8 billion from $500 million. “Given last week’s landmark GLP-1 agreement, which expanded Medicare/Medicaid access to tirzepatide/orforglipron, we believe Lilly’s dominance in this space will accelerate,” analysts who rate the stock a buy wrote. In the same note, Citi raised Lilly’s price target from $1,250 to a street high of $1,500 per share, implying an upside of more than 50% from Tuesday’s closing price. It’s been quite a comeback for Lilly stock. Disappointing late-stage trial data for an obesity drug overshadowed overall strong quarterly results, causing the company to plummet 14% on Aug. 7. Eli Lilly is a holding in Cramer’s Charitable Trust, a portfolio managed by CNBC Investment Club.
