(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
Images of Bangladeshi motorcyclists sleeping at petrol pumps are AI-generated - 2Toddler given just 3 years to live after strange symptoms makes full recovery
- 37 Powerful Techniques to Boost Efficiency with Your Cell Phone: A Thorough Aide
- 4First stop, the Moon. Next stop, Mars? Why Nasa's mission matters
- 56 Arranging Administrations to Change Your Open air Space
- Treasure trove found in Egyptian tomb solves ancient mystery
- Fuel Price Spike Drives Surge in Used EV Sales in Europe
- South Carolina measles outbreak grows by nearly 100, spreads to North Carolina and Ohio
- ACA subsidies latest: Making sense of what's happening with health care after Republicans revolt, forcing a vote on funding extension
- Most normal matter in the universe isn't found in planets, stars or galaxies – an astronomer explains where it's distributed
- From Squid Game to Your Party! Six Entertaining Test Games That Will Have You in Join
- France's Senate backs ban on social media platforms for under-15s
- Israeli police block Latin Patriarch from Palm Sunday mass in Jerusalem
- Italy's Beloved Trevi Fountain Hides A Unique Secret That Can Be Explored Underground
