(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
FDA claims on COVID-19 vaccine safety are unsupported by reliable data – and could severely hinder vaccine access - 22024 Manual for Light Extravagance Room Feel: What's Moving
- 3Medicine doesn’t just have ‘conscientious objectors’ − there are ‘conscientious providers,’ too
- 4Why is Jerome Powell being investigated? Making sense of the DOJ's probe into the Federal Reserve chair.
- 5West Palm Beach Shorecrest, renderings of downtown waterfront condo
- They relied on marijuana to get through the day. But then days felt impossible without it
- Instructions to Improve Your Mental Exploration with Cutting edge Measurements
- Solar storms have influenced our history – an environmental historian explains how they could also threaten our future
- Figure out How to Modify Your Pre-assembled Home for Greatest Solace and Stylish Allure
- 100 new alien worlds: Scientists find hidden haul in data from NASA exoplanet-hunting spacecraft
- Interstellar comet 3I/ATLAS reveals weird wobbling jets in rare sun-facing tail
- Authentic Urban areas: Rich Legacy and Lively Societies
- Israel reports first missile fire from Yemen since start of Iran war
- Kobe Bryant called this WNBA star the 'Gold Mamba.' She turned his advice to her into a tattoo.
