Langone Sees Eli Lilly Stock Hitting $2,000 in Next 3-4 Years

Ken Langone, chairman and president of Invemed Associates and co-founder of Home Depot (NYSE:HD), made headlines recently when he predicted that Eli Lilly (NYSE:LLY) stock will reach $2,000 in three to four years. Speaking on CNBC's Squawk Box on September 22, 2026, Langone stated, 'I think Lilly's going to be a $2,000 stock in the next 3 or 4 years.'

Langone's confidence in Eli Lilly stems from his long-term involvement with the company. He acquired a San Diego medical device company for $1.5 million in 1972 and sold it to Eli Lilly five years later for $50 million in stock. Since then, the company has grown from a market capitalization of roughly $2 billion in the late 1970s to over $1 trillion today.

Langone praised Eli Lilly's research and development efforts, crediting former CEO John Lechleiter with turning around the company's pipeline. He noted that the company now spends $17 or $18 billion on R&D annually, compared to $4 billion a year when Lechleiter took over.

Langone's prediction comes after Eli Lilly's recent pullback, which saw the stock down 8.09% in the past month. However, Langone remains bullish on the company's prospects, citing its diversification into various areas such as immunology, oncology, and neuroscience.