(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
Beddings of 2024: Track down Your Ideal Fit for a Tranquil Rest - 2Step by step instructions to Get a good deal on Your Rooftop Substitution Venture
- 3Instructions to Choose the Best Material Organization for a Fruitful Rooftop Substitution
- 4Courageous Climbing: Trails and Stuff for Outside Lovers
- 5She's been a Bond girl and a mutant. Now she's grappling with Hollywood's obsession with 'eternal youth.'
- Figure out How to Keep up with Oral Wellbeing During Pregnancy
- 6 Tire Brands Reasonable for Seniors
- Study casts doubt on potential for life on Jupiter's moon Europa
- What to watch for as NASA’s historic Artemis II crew prepares to lift off toward the moon
- 4 Jeep Models: Dominating Execution and Flexibility for Each Experience
- AbbVie plans to build out its presence in obesity market
- Fireball sightings are surging across the US — here's what's really going on
- Early Thanksgiving week forecast: Where Americans can expect cold, rain and snow for the holiday
- More than 800 flights canceled as FAA cuts traffic at 40 major airports. Here's what to know.
