Lilly's market cap soared 36% in Q2, eclipsing J&J, Merck, Novo Nordisk
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Eli Lilly (NYSE:LLY) saw its market cap spike 36.1% during Q2, making it the biggest gainer amongst the top 20 biopharma companies in the world, while AbbVie (ABBV) experienced the largest drop.
Lilly's market cap ballooned to $445B as of June 30, making it the No.1 pharma company by market cap, switching places with Johnson & Johnson (JNJ), which slipped to the No. 2 position during Q2 with a market cap of $430B, according to new report by Global Data.
Lilly's performance was powered in part by positive data for its obesity drug candidate Mounjaro, which is already approved for the treatment of diabetes.
Rounding out the top five gainers for Q2 was Vertex (VRTX), which saw its market cap jump 11.9% to $91B, following by Novartis (NVS) with an 8.9% gain, Merck (MRK) with an 8.4% increase and Roche (OTCQX:RHHBY), which saw its market cap climb 6.7% to $248B, as of June 30.

The top largest market caps, in descending order, were Lilly, J&J, Merck at $293B, Novo Nordisk (NVO) at $275B and Roche at $248B, as of June 30.
On the flip side, AbbVie's market cap took the deep dive, plunging 15.5% to $238B as its top-selling drug Humira faced increased generic competition.
Daiichi Sankyo (OTCPK:DSKYF) and Bayer AG (OTCPK:BAYZF) were tied for second place, with market caps for both dropping 15.5% during Q2, followed by Regeneron (REGN) with a 12.2% decline and Pfizer (PFE), which fell by 10.1%.
Global Data said that the aggregate market cap for the top 20 biopharma companies increased 2.3% during Q2 to $3.56T. 



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