(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
Health insurance premiums rose nearly 3x the rate of worker earnings over the past 25 years - 2Find the Specialty of Public Speaking: Drawing in and Convincing Crowds with Certainty
- 3I'm an 83-year-old yoga instructor. I'm not your typical grandma — I still work to feel fulfilled and supplement my Social Security.
- 4California warns of death cap mushrooms outbreak resulting in 3 deaths
- 5Born under fire: MDA delivers baby in Jerusalem minutes before rushing to shelter
- A Manual for Nations with Extraordinary Food
- The Benefits of Effective money management for Your Youngsters' Future Monetary Prosperity
- Vote in favor of the bloom plan that adds a bit of excellence to your life!
- Investigation reveals sperm donor passed on cancer risk to dozens of children across Europe
- Huge Iranian missile fragments, intercepted by air defenses, lay scattered across Israel, West Bank
- The 10 Most Significant Virtual Entertainment Missions
- Australians told to continue Easter travel plans despite fuel shortages
- As infant botulism cases climb to 31, recalled ByHeart baby formula is still on some store shelves
- New dinosaur tracks in Italy illustrate herds moving in unison
