(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
Iran warns its ready to open new front in Yemen, close Bab al-Mandab Strait with Houthis - 2Online business Stages for Little Retailers
- 3Winter storm headed for Midwest to Northeast. Here's how much snow to expect.
- 4What is a Trump Gold Card? U.S. launches $1 million immigration visas
- 5A definitive Bike Standoff: Decision in favor of Your Number one Ride
- Oil rises above $115 and Asia stocks slide as Iran war escalates
- Volkswagen Just Revealed a Massive Range-Extended SUV for China, and America Isn’t Getting It
- Coalition led by Iraqi PM al-Sudani wins parliamentary elections
- Guns N' Roses 2026 Tour: How to get tickets, presale times, prices and more
- Florence's Uffizi Gallery moves treasures to safety after cyberattack
- Everyone knows F1 is for the girls. I wandered into the Las Vegas desert to find out why.
- Brilliant and Gleaming: Excellence and Skincare Practices
- A Gustav Klimt painting is now the most expensive piece of modern art sold at auction. The fascinating history behind the $236 million 'Portrait of Elisabeth Lederer.'
- Instructions to Shield Your Gold Speculation from Possible Dangers: Fundamental Protections
