(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
Top Breakfast Food: What's Your Morning Enjoyment? - 2Egypt seeks to calm tourist fears over fallout of Iran war
- 3NASA releases new ‘Earthset’ and eclipse images taken during historic flyby of the moon
- 44 injured in shooting at North Carolina tree lighting ceremony
- 5Council removes proposal to rename park named after former president of Israel
- Dutch police probe a small blast outside a pro-Israel Christian center
- Vaccine makers raise concerns over US panel's shift away from hepatitis B shots for newborns
- Monetary Freedom Guide: Plan Your Future
- 4 Masked Men Steal Renoir, Matisse and Cézanne Paintings Worth Over $10 Million in 3-Minute Heist
- Shrewd Home Gadgets to Save Energy
- Climate change is straining Alaska's Arctic. A new mining road may push the region past the brink
- Instructions to Safeguard Your Speculations In the midst of Changing Disc Rates
- Figure out How to Remain Informed about the Most recent Open Record Extra Offers
- 4 well known subjects in school
