(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
Gym tied to outbreak of obscure disease that spreads through mist - 2Vietnam rethinks its flood strategy as climate change drives storms and devastation
- 3'Crammed into a cell with vermin at New Year'
- 4Dwayne ‘the Rock’ Johnson opens up about being the 'new guy' again — and why this moment feels like a new life
- 5'Stranger Things' Season 5: What's going on with Will Byers? That shocking Volume 1 plot twist, explained.
- 15 Preposterous Cosplay Ensembles That Will Blow You Away
- Unfathomable and Entertaining Legal disputes That Surprise everyone
- A Pompeii site reveals the recipe for Roman concrete. It contradicts a famous architect’s writings
- See tonight’s solar storm unfold across the world
- Investigating Inside Plan and Home Style: Change Your Residing Space
- 6 Trail blazing Bicycles for Rough terrain Undertakings
- Top 10 Books That Will Have an impact on Your Viewpoint
- Nestlé recalls infant formula in 49 countries. See list.
- What are the health benefits of whole milk for kids?
