Eli Lil­ly's mar­ket val­u­a­tion briefly reached more than a tril­lion dol­lars on Fri­day, mak­ing it the first-ever drug­mak­er to reach that bench­mark.

It hit the 13-dig­it val­u­a­tion dur­ing in­tra­day trad­ing Fri­day, ac­cord­ing to re­ports from Bloomberg and the Fi­nan­cial Times.

Just eight years ago, Lil­ly's mar­ket val­ue was on­ly about $100 bil­lion. Its ex­pand­ed val­ue has been dri­ven by its work in obe­si­ty, over­tak­ing ri­val No­vo Nordisk in the glob­al GLP-1 race.

GLP-1s are “dri­ving prob­a­bly 80% of the eco­nom­ic val­ue of the com­pa­ny,” Lil­ly CEO David Ricks said on an episode of the “Cheeky Pint” pod­cast ear­li­er this month. Lil­ly’s GLP-1/GIP med­i­cine, tirzepatide (sold as Zep­bound and Moun­jaro), eclipsed $10 bil­lion in sales in the third quar­ter across di­a­betes and weight man­age­ment in­di­ca­tions.

The FDA said Fri­day that it is look­ing in­to a pe­di­atric pa­tient’s death that ap­pears to be re­lat­ed to Take­da’s Adzyn­ma, which is a treat­ment for a rare ge­net­ic blood dis­or­der.

Adzyn­ma is an en­zyme re­place­ment ther­a­py. It is ap­proved for con­gen­i­tal throm­bot­ic throm­bo­cy­topenic pur­pu­ra, or cTTP, which is caused by de­fi­cien­cies in the ADAMTS13 en­zyme.

The pa­tient had neu­tral­iz­ing an­ti­bod­ies to the ADAMTS13 en­zyme. The agency is in­ves­ti­gat­ing the risk of se­ri­ous and life-threat­en­ing out­comes and death with neu­tral­iz­ing an­ti­bod­ies af­ter treat­ment with Adzyn­ma, and is “eval­u­at­ing the need for fur­ther reg­u­la­to­ry ac­tion.”

Con­tineum Ther­a­peu­tics re­port­ed a Phase 2 fail­ure in mul­ti­ple scle­ro­sis on Thurs­day af­ter­noon, but most an­a­lysts don’t seem to view the miss as cat­a­stroph­ic.

Con­tineum said its drug PIPE-307 did not reach its pri­ma­ry or sec­ondary end­points in a tri­al look­ing at pa­tients with re­laps­ing-re­mit­ting mul­ti­ple scle­ro­sis. The San Diego biotech did not re­port spe­cif­ic da­ta and said it plans to re­lease the full re­sults at a fu­ture med­ical con­fer­ence.

Con­tineum's stock price CT­NM was down about 9% in Fri­day’s pre­mar­ket ses­sion.

An­a­lysts large­ly agreed, how­ev­er, that the study was high-risk and un­like­ly to suc­ceed. Con­tineum’s best bet for ap­proval lies in an­oth­er pro­gram called PIPE-791, which is be­ing stud­ied for id­io­path­ic pul­monary fi­bro­sis. A Phase 2 study is ex­pect­ed to launch by the end of this year.

Plus, news about Blue Lake, Bam­busa, In­hibikase Ther­a­peu­tics and Ole­ma On­col­o­gy:

🛑 Sarep­ta ter­mi­nates Ele­v­idys tri­al with Hansa Bio­phar­ma’s im­li­fi­dase: The study was ex­am­in­ing whether Hansa’s im­li­fi­dase, an IgG an­ti­body-cleav­ing en­zyme, could help re&s