(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
Exploring the Main Year of Life as a parent: Individual Encounters - 2‘I love this work, but it’s killing me’: The unique toll of being a spiritual leader today
- 3The Solution to Defeating Tarrying: Systems for Expanded Efficiency
- 4Starfront Observatories: A haven for distant stargazers
- 5Jersey's wellbeing score is below UK and France
- Misinterpretations and Mistakes Portrayed by Hollywood in the General set of laws
- Israel's Druze use AI to present to UN testimonies of 'sexual terrorism' against Syrian Druze women
- Hostile to Maturing Skincare Items to Rejuvenate Your Skin
- Ifo: Job cuts in Germany slowing but not enough for a turnaround
- Interstellar comet 3I/ATLAS to pass closest to Earth on Friday
- Germany to create restitution council to return colonia-era acquired cultural artefacts
- Brazil judge orders government to add JBS subsidiary to 'dirty list' for slavery
- Blood pressure drug recalled for possible cross-contamination
- Consumers advised to dispose of 19 cooking pans due to lead leaching risk, FDA reports
