Two companies are making billions selling medicines. But one is growing so fast that its rival is struggling to keep up.
Amgen and Eli Lilly are both successful businesses, but when it comes to growth, Eli Lilly is leaving Amgen behind.
And the reason might surprise you.
How Did Eli Lilly Get So Far Ahead?
The answer is simple: weight loss medicines.
Millions of people struggle with weight problems and diabetes. Eli Lilly sells popular treatments like Zepbound and Mounjaro, and demand has helped its business grow incredibly fast.
In 2025, Eli Lilly made about $65 billion in sales, compared with around $45 billion the year before.
That is an enormous jump in just one year.
But What About Amgen?
Amgen is not a small company. It makes medicines for cancer, bone problems, and other serious diseases.
In 2025, Amgen generated about $37 billion in sales.
That is impressive, but its growth has been much slower.
Amgen has another advantage, though. Its stock is cheaper compared with the money the company earns.
Imagine two shops. One is growing quickly and attracting customers everywhere. The other is profitable but expanding slowly.
Right now, Eli Lilly looks like the more exciting business.
The Phoenix Metrics Verdict: Eli Lilly Wins
Eli Lilly is our winner because its business is growing faster, its weight loss medicines are selling strongly, and it has more opportunities to expand.
But there is one catch.
Investors already expect enormous success from Eli Lilly. If growth slows, its expensive stock could suffer.
Still, when comparing business performance, Eli Lilly takes the crown.
Amgen is competing. Eli Lilly is setting the pace.
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Disclaimer: This article is for educational and informational purposes only. It is not financial or investment advice. Always conduct your own research before making investment decisions.
Sources and Further Reading: Financial information referenced in this article comes from publicly available company reports.