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.

The S&P 500 added 0.1% on Tuesday, Jan. 14, as tame wholesale inflation data provided a positive signal ahead of Wednesday's consumer price report.

Lilly gave hopeful income projections for 2025 ranging from $58 billion to $61 billion, therefore showing a midpoint rise of 32%. CEO David Ricks attributed the expectation to improved production capacity and new product introductions but highlighted slower-than-expected expansion in the U.S. incretin market as a factor influencing Q4 results.