(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
'All's Fair,' Ryan Murphy's new show starring Kim Kardashian, hit with scathing reviews: 'A girlboss fever dream' - 2Becoming amazing at Systems administration: Individual and Expert Tips
- 3Venezuelan President Maduro arrives in New York following U.S. capture: Full coverage
- 4SpaceX rocket launches 140 satellites into orbit on Transporter-15, aces landing at sea (video)
- 5Pick Your #1 breakfast food
- The most effective method to Keep up with Proficient Handshakes in a Computerized World
- Over 250,000 cases of shredded cheese recalled over possible metal fragments
- U.S. to drop childhood vaccine recommendations as it looks to Denmark, Washington Post reports
- Geminid meteor shower, one of the year's most reliable, peaks this weekend
- Which Instax Camera Would it be a good idea for you to Purchase?
- Europe could get 42 more days of summer by the year 2100 due to climate change
- Fundamental Archives for Beginning Your Business
- 'Sex and the City' star Kim Cattrall marries longtime partner Russell Thomas in intimate London wedding
- FDA claims on COVID-19 vaccine safety are unsupported by reliable data – and could severely hinder vaccine access
