(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
Zelensky sees win for Ukraine as EU finally reaches funding deal - 2Record-breaking flu hospitalizations in New York in a single week: Health officials
- 3Russia accidentally destroys its only way of sending astronauts to space
- 4Are protests pushing Iran's Islamic regime toward a tipping point?
- 5Visual communication Programming for Fledglings
- Astrophotographer captures spectacular photo of Antennae Galaxies dueling in deep space
- 'No middle ground' for tackling antisemitism after Bondi Beach mass shooting, deputy FM Haskel says
- I’m a neuroscientist who taught rats to drive − their joy suggests how anticipating fun can enrich human life
- Shadow Cats: The Elusive Leopards Surviving Against Impossible Odds
- McDonald's is bringing two 'KPop Demon Hunters' meals to McDonald's. Here's what they include and when they launch.
- We tasted one of the 10,000 Hershey's Dubai chocolate bars being resold on eBay. Is it worth the hype?
- 6 Eyewear Brands Worth Purchasing
- Vote in favor of Your #1 4\u00d74 SUVs
- How much would you pay to meet a Real Housewife? At BravoCon, the limit does not exist.
