(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
Fetterman says he's back home after a fall put the Pennsylvania senator in the hospital - 2Family Holiday spots
- 3The next frontier in space is closer than you think – welcome to the world of very low Earth orbit satellites
- 4Rebecca Gayheart on her 'very complicated' relationship with Eric Dane: 'I am always going to want the best for him'
- 5Full SNAP benefits must be paid ‘promptly,’ USDA tells states as government reopens
- Churches and politicians in South Sudan call for 'lasting peace' in Easter messages
- The Tradition of Stone: A Gander at Notable Structures Through the Ages
- IDF strikes Hamas terror cell operating near Israeli troops in northern Gaza
- vote in favor of Your #1 kind of climate
- Exploring the Market: Unsold Rams May Be Less expensive Than You Naturally suspect
- Language Learning Stages: Which One Gets Your Vote?
- Telecommute Arrangement: What's Pivotal for Your Efficiency?
- 7 Strange Devices to Make Your Party Stick Out!
- Manual for Big name Work out schedules
