Eli Lilly ( LLY -6.59%) is the most valuable healthcare stock in the world, with a market capitalization of around $720 billion. For a while, it looked like it might be on track to be the first healthcare company to top a $1 trillion valuation, perhaps as early as this year.

Key Takeaways Eli Lilly shares tumbled Tuesday after the drugmaker lowered its revenue forecast for the 2024 fiscal year.The maker of weight-loss drugs Mounjaro and Zepbound said sales grew slower than expected in the fourth quarter.

Eli Lilly (LLY) reduced its fourth-quarter sales guidance by 5%, lowering expectations to $13.5 billion. This figure is $400 million below the low end of the company’s prior guidance and includes $3.5 billion from its type 2 diabetes drug Mounjaro and $1.