(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
Oprah Winfrey's Favorite Wellness Destination Is A Luxurious Italian Retreat- James Webb Space Telescope spies mysterious high-energy radiation in star nursery
- Some Americans say they'll go without health insurance as ACA rates spike
- 6 US States for Fly Fishing
- The Incomparable Advanced cameras: Which One Will Win?
- Wolf bites woman in a shopping area in Germany's 2nd-biggest city
- New dietary guidelines recommend more dairy, meat and fats: What to know
- Artemis II's moonbound toilet is working again to astronauts' relief after overnight fix
- From Dread to Certainty: Individual Accounts of Strengthening
