(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
Texas cities have some of the highest preterm birth rates in the US, highlighting maternal health crisis nationwide - 2Did we start the fire? A 400,000-year-old hearth sparks new questions about human evolution
- 3Accor signs agreement to transform El Gouna resort as Sofitel
- 4Scientist turns people’s mental images into text using ‘mind-captioning’ technology
- 5The most effective method to Really Adjust Hypothesis and Practice in Your Brain science Studies
- Dear Santa: I want Botox. Why cosmetic procedures are topping holiday wish lists.
- NATO official says members often aren't buying weapons together, and it's a mistake
- Idris Elba is the king of the stress-watch
- Vial marked 'Polonium 210' sparks scare during German Easter egg hunt
- Palestine weekly wrap: Protests sweep West Bank after death penalty law
- Germany to create restitution council to return colonia-era acquired cultural artefacts
- Highlight Correlation of Microsoft Surface Book and Surface Genius Workstations for Determination
- The most effective method to Examine a Cellular breakdown in the lungs Finding with Family
- Whale stranded off Germany for days free again
