Ken Langone predicts LLY will hit $2,000/share in 3-4 years based on its diversified pipeline and management.

Eli Liy could be a $2,000 stock in the next three to four years. That is coming from Home Depot co-founder Ken Langon.

Home Depot, ticker HD, their co-founder Ken Langon, stated that the Mangaro maker Eli Liy, ticker LLY, could reach $2,000 per share within the next three to four years, noting that the drug maker is currently challenging Home Depot as its largest personal investment holding.

Speaking on CNBC's Squawkbox, the uh Invimed Associates chairman and president said, "Eli Lily is giving Home Depot a real run for the top spot in his portfolio." Quote, "I think Lily is going to be a $2,000 stock in the next three to four years."

End quote. Langode said that during the broadcast, and this target is 70.92% higher than Tuesday's closing price. Quote, "Home Depot better get off its rear because Lily may become the number one in this old guy's portfolio." End quote.

Langon detailed that his connection to Eli Liy dates all the way back to 1977. Lone acquired control of San Diego's medical device company, IVAC in 1972, and Lily acquired IVAC in 1977 for roughly $50 million in Lily stock.

He stated that he has held the stock for nearly five decades, purchasing additional shares during major market pullbacks. When he acquired his initial stake, Lily had a market cap of 2 billion compared to nearly 1 trillion here today.

Langon attributed his valuation target to company leadership and sustained research spending rather than the sole reliance on GLP-1 weight loss medications. He credited chairman and CEO David Ricks and head of research and development uh Dan Scurvansky while expanding the drug makers broader pipeline supported by an annual research budget of 17 to 18 billion.

Quote they're not relying completely on these weight loss drugs. End quote. Goes on to say they're building a fortress of activities in so many different areas. He also added that quote the best is yet to come. End quote.

Langon's outlook follows separate comments from CEO Ricks, who announced a $6.5 billion facility in Houston, Texas to manufacture synthetic active pharmaceutical ingredients for oral GLP-1 medicines.

Rick's also confirmed that Lily captured 70% of new senior Medicare GLP-1 patients since July 1st.

So, um, look, we've talked about the whole GLP1 thing. I know there were some stories about uh some kids that have taken it and have developed blindness uh and there's lawsuits for that.

Langon here on the other end of that saying this is going to keep going and it's not just the GLP ones, right? They have a incredible pipeline.

We have always talked about Lily being absolutely best in breed. So it would not surprise me at all um that some of these other drugs really kind of take the torch.