(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
EPA watchdog finds nation’s most contaminated sites are vulnerable to flooding, wildfires - 2Progress Over Perfection: Lessons From Garment Factories Fighting Heat Stress
- 3Role reversal: Ukraine moves training home and exports the lessons abroad
- 4Vacation destinations in America
- 5What happened in 'Wicked' part 1 and will there be a 3rd movie? Recap and what Ariana Grande, Jon M. Chu have said about a sequel.
- Chevron Says Damage at Wheatstone LNG Will Hamper Restart
- Best Quest for new employment Site for You to Track down Amazing open doors
- Gym tied to outbreak of obscure disease that spreads through mist
- Arctic is again the hottest it's been in 125 years, with record-low sea ice, NOAA report says
- Figure out How to Put resources into Lab Precious stones
- Top Smoothie Flavor: What's Your Mix?
- Report: Thailand strikes deal with Iran for safe passage of Hormuz
- Pick Your Favored kind of books
- 'All Her Fault' ending explained: The shocking conclusion to the psychological thriller inspired by true events
