(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
Mysterious bright blue cosmic blasts triggered by black holes shredding stars, scientists say. 'It's definitely not just an exploding star.' - 2Kate Hudson, 46, says she doesn't need long workouts to feel good
- 3Avoid Slam: Clearing the Street for the Eventual fate of Standard Size Trucks
- 4Hundreds of Gazans evacuated from Strip for medical treatment - COGAT
- 5Favored Vehicle for Seniors: Make Your Determination
- Chinese fossils reveal a primordial burst of animal evolution
- Merz: 80% of Syrians in Germany should return in three years
- Israel’s 'Stonehenge’ not alone with near 30 similar sites, satellite imagery reveals
- Farmers call for French blockades over cow disease cull
- Argentina reportedly delaying embassy move over Israeli company's oil project near Falklands
- The Most Encouraging New companies to Look Out For
- Key takeaways from Sen. Bill Cassidy's interview on 'Face the Nation' with Margaret Brennan
- Over 60 local leaders push Netanyahu to halt haredi draft bill, warn of social rift
- Pick Your Favored method of transportation
