(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
Astronauts head home early after medical issue - 2Who plays Moana in the live-action remake? What to know about Catherine Lagaʻaia.
- 3The Significance of Health Projects in Senior Protection.
- 4Vote in favor of the wide open action that revives your brain and soul!
- 5First stop, the Moon. Next stop, Mars? Why Nasa's mission matters
- Netanyahu leads meeting on West Bank riots, Katz defends axing administrative detention for Jews
- Explainer-What Novo Nordisk's weight-loss pill approval means for company, patients
- The Way to Fruitful Weight reduction: Individual Wellbeing Excursions
- Scientists discover black hole flare with the light of 10 trillion suns
- BioMarin to acquire Amicus Therapeutics for $4.8 billion in rare disease bet
- New findings suggest atmosphere could exist on exoplanet TOI-561b
- Step by step instructions to Contrast Lab Precious stones and Normal Jewels
- Turkey, Egypt, Qatar discuss second phase of Gaza ceasefire deal
- Artemis 2 astronauts fly around the moon in record-breaking lunar loop by NASA
