(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)
Metropolitan Greatness: The 6 Urban areas for Quality Living in 2024- Beyond oil: The crucial exports blocked by Hormuz closure
- Flash flooding causes highways to close to and from Eilat
- The Most Astonishing Arising Advancements to Watch
- Purdue Pharma's deal means money for some victims, end of Purdue company name. Here's what to know
- Iran war fuels fears of new inflation wave among German consumers
- 'We were genuinely astonished': This moss survived 9 months outside the International Space Station and could still grow on Earth
- 5 Language Learning Applications
- Farewell, comet 3I/ATLAS! Interstellar visitor heads for the outer solar system after its closest approach to Earth
