On Friday, shares of Eli Lilly (LLY.US) moved higher against the broader market trend, gaining over 3% during the session to set a new all-time high, bringing its total market capitalization to $1.09 trillion.

The positive movement is supported by recent developments. The company's blockbuster weight-loss drug Zepbound has recently had its insurance coverage reinstated by major pharmacy benefit manager CVS Caremark. Furthermore, the newly approved oral weight-loss treatment, Foundayo, has been added to the formulary, continuing the expansion of the company's GLP-1 product portfolio.

Amid the current shift of U.S. stock market funds from technology stocks to value sectors such as healthcare and financials, Eli Lilly has become a primary destination for safe-haven capital inflows, thanks to its robust fundamentals and leading position in the weight-loss drug market.

Citigroup has reaffirmed its "Buy" rating on the stock with a price target of $1,500. An upcoming diabetes conference is expected to release more data on retatrutide, which could further highlight its differentiated advantages over currently available products and support its broader application.