(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
The Most Famous Virtual Entertainment Powerhouses of the Year - 2Josh Duhamel's secret to the good life at 53? Wolverine peptides, ditching Hollywood and having another baby.
- 3Tesla plans to expand production at German car plant
- 4Meet Beef the bulldog, who takes slow walks with his 78-year-old friend
- 5Black Friday Paramount+ deal: Save 50% and stream these buzzy Taylor Sheridan shows
- Twelve injured near Beit Shemesh, reports of shrapnel impact in Eilat as Iran targets Israel
- What is Fusarium graminearum, the fungus a Chinese scientist pleaded guilty to smuggling into the US?
- Clovis Unified students spend spring break traveling through China
- 'A completely new manufacturing frontier': Space Forge fires up 1st commercial semiconductor factory in space
- Kansas school officials report high student illness, dismiss early
- What really happens when 140 reality stars come face to face with their biggest fans
- Unwinding the Starting points of America: An Excursion Through History
- 21 Incredibly Entertaining Contemplations To Observe Consistently
- Is Chinese food truly flavorful?
