(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
Shredded cheese sold in dozens of states recalled due to potential for metal fragment contamination - 2Tesla Germany Registrations Quadruple to 9,252 Vehicles in Best March Ever
- 3Exploring Programming Greatness: A Survey of \Easy to use Connection points\
- 4Colorado residents face earliest water restrictions ever — a harbinger of worse to come
- 5College students are now slightly less likely to experience severe depression, research shows – but the mental health crisis is far from over
- Highlight Correlation of Microsoft Surface Book and Surface Genius Workstations for Determination
- 'No middle ground' for tackling antisemitism after Bondi Beach mass shooting, deputy FM Haskel says
- Home Mechanization Frameworks for Brilliant Residing
- Heavenly Pastry Confrontation: Pick Your #1 Sweet Treat!
- Astronauts on the ISS watched NASA's historic Artemis 2 launch from space
- Posts falsely claim Malaysian minister to relocate public hospital for temple
- Vehicle Lovers' Decision: Purchase A Reasonable Vehicle
- Watch This Glacier Race into the Sea
- Journalist reported killed in the Gaza Strip
