(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
Best Wellness Tracker Keep You On target - 2Vietnam rethinks its flood strategy as climate change drives storms and devastation
- 3Airport wait times won't return to normal until Congress reaches a deal to pay TSA. Here's why they still can't come to an agreement.
- 4Jersey's wellbeing score is below UK and France
- 5Make your choice for the PS5 game that you love playing with companions!
- The moon up close: How the Artemis 2 astronauts are photographing their historic lunar flyby
- A few Up-to-date Sacks - Stylish Young ladies Shouldn't Miss
- NASA wants to build a base on the Moon by the 2030s – how and why it plans to build up to a long-term lunar presence
- Experience Unrivaled Sound: Top Speakers You Really want to Hear
- Tatiana Schlossberg, JFK's granddaughter, dies at 35 after terminal cancer diagnosis
- A Sweet Choice: Pick Your #1 Cake!
- Former school bus aide pleads guilty to assaulting 3 autistic students in Colorado
- Nvidia Share Price Could Be Hit Hard By Iran War
- Impact of NIH funding reductions felt in cancer and infectious disease trials
