(Reuters) -Eli Lilly hit $1 trillion in market value on Friday, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse.
Here are some reactions to Lilly joining the trillion dollar club:
EVAN SEIGERMAN, ANALYST AT BMO CAPITAL MARKETS
"The current valuation points to investor confidence in the longer-term durability of the company's metabolic health franchise. It also suggests that investors prefer Lilly over Novo in the obesity arms race. Taking a step back, we're also seeing money rotate into the sector as investors may be worried about an AI bubble."
HANK SMITH, DIRECTOR & HEAD OF INVESTMENT STRATEGY AT LILLY SHAREHOLDER HAVERFORD TRUST
"Investors have historically liked secure earnings growth and (Eli Lilly) is the only large cap pharma that has that kind of earnings profile."
(Reporting by Siddhi Mahatole and Shashwat Chauhan in Bengaluru; Editing by Leroy Leo)
LATEST POSTS
- 1
How to identify animal tracks, burrows and other signs of wildlife in your neighborhood - 2Find the Specialty of Calligraphy: Dominating the Exquisite Art of Penmanship
- 3Nature's Best: A Manual for Beautiful Train Rides
- 4Palestinians reel under winter rains as Israel blocks Gaza shelter supplies
- 521 Incredibly Entertaining Contemplations To Observe Consistently
- RFK Jr. says fewer flu shots for kids may be 'better.' What experts say.
- Limited Rain Chances in Brazil Boost Coffee Prices
- Eleven Creations And Developments That Steered History
- Vote In favor of Your #1 sort of film
- Figure out How to Alter Your Volvo XC40 for Further developed Solace
- 'Heated Rivalry' is just the tip of the iceberg. How hockey became the sexiest sport
- Pick Your Favored method of transportation
- Former Israeli judge does not expect Netanyahu to be pardoned
- Germany's Pistorius: NATO protects Europe from Iranian missiles
