(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
Senior's Manual for Obtaining a Hyundai Ioniq EV: Tips - 2Photos: Hundreds Gather at Bondi Beach After Deadly Attack
- 3Forum Dvorah demands clear support for women in combat as IDF gender debate escalates
- 4Vote in favor of your Favored kind of footwear
- 5Infants will no longer receive hepatitis B vaccine at birth, CDC announces
- Ukrainian Army Converts E38 BMW 7-Series Into Multiple Rocket Launch Platform
- South Carolina's measles outbreak reaches 434 cases
- New law puts familiar drinks, creams and gummies in legal limbo
- European Travel Objections for 2024
- Elite Execution Gaming PCs for Gamers
- College students are now slightly less likely to experience severe depression, research shows – but the mental health crisis is far from over
- Figure out How to Keep up with Oral Wellbeing During Pregnancy
- The Main 15 Applications for Efficiency and Association
- Public mistrust linked to drop in deceased donor organ donations and kidney transplants
