(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)
10 Hints for an Effective New employee screening- IDF strikes Hamas terror base in Lebanon, Health Ministry says 11 killed
- What's the Fate of 5G Innovation?
- Manual for Picking the Ideal Wine Matching
- 6 Eyewear Brands Worth Purchasing
- Astronomer captures 2 meteors slamming into the moon (video)
- Protest inspired by 'Gen Z' movement draws few young people in Mexico and many government critics
- 10 Setting up camp Shelters That Offer Both Excellence and Isolation
- 'Dancing With the Stars' Season 34 finale: Who might win the mirror ball trophy? Where do the remaining contestants rank?
