Shares in pharmaceutical giant Eli Lilly (LLY:NYSE) have put in an outstanding performance over the last 12 months rising 71.4% to the $539 mark to become the world’s largest drugmaker by market value.Much of the excitement around the stock has been driven by new treatments for two of the globe’s biggest public health issues in obesity and Alzheimer’s. The company announced results in July from a late-stage trial showing its Alzheimer’s treatment Donanemab had a big impact on memory loss and cognitive decline.

Diabetes and weight loss treatment Mounjaro is also capturing the market’s imagination. Having been approved to treat diabetes in 2022, a trial in April revealed it also cut body weight significantly and it is expected to be greenlit as an obesity treatment later in the year.

Momentum has been sustained by its recent second-quarter results. On 8 August, the company raised its full-year revenue guidance to between $33.4 billion and $33.9 billion, up from the previous forecast of $31.2 billion to £31.7 billion.

The company posted an 85% jump in second-quarter earnings year-on-year in part supported by strong sales in breast cancer pill Verzenio and type-two diabetes drug Jardiance.

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