(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
What is a Trump Gold Card? U.S. launches $1 million immigration visas - 2Before Cheap Cars Were Common, This Fiat Changed Everyday Life for Millions
- 3The Starbucks for Life game is back, along with your chance to win a 'Bearista' cold cup. Here's how to get your paws on one.
- 4Hundreds of Gazans evacuated from Strip for medical treatment - COGAT
- 56 Hints to Upgrade Your Appeal, In addition to Your Outlook
- 'A perfect storm': Airlines cut flights and increase airfares as jet fuel price spikes
- The most effective method to Amplify Your Opportunity for growth in a Web-based Degree Program
- Elanco's drug gets emergency nod to treat deadly flesh-eating parasite in cats
- A throat bone settles it - Nanotyrannus was not a juvenile T. rex
- Google's proposed data center in orbit will face issues with space debris in an already crowded orbit
- IDF drops over 80 explosives on Tehran weapon production sites in latest strike
- IDF begins destroying homes used by Hezbollah as forces move deeper into southern Lebanon
- Figure out How to Augment Your Rooftop Substitution Speculation
- Satellite constellations could obscure most space telescope observations by late 2030s: 'That part of the image will be forever lost'
