(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
IDF begins destroying homes used by Hezbollah as forces move deeper into southern Lebanon - 2James Webb Space Telescope's mysterious 'little red dots' may be black holes in disguise
- 35 Movies That Leaving an Imprint with Inventive Innovation
- 4Top German court to rule on claims by Wirecard shareholders
- 5Manual for Mountain Objections on the planet
- The 1 question we have to ask ourselves about the Taylor Frankie Paul 'Bachelorette' scandal
- Boats escort freed whale away from shallow waters off German coast
- Vote In favor of Your Favored Language Interpretation Administration
- Is new Harry Styles music on the way? Fans think so, after a cryptic website and posters pop up.
- Monetary Security: Building Serious areas of strength for an Establishment
- NASA's Apollo 8 moonshot saved 1968. Could Artemis 2 do the same in 2026?
- She's been a Bond girl and a mutant. Now she's grappling with Hollywood's obsession with 'eternal youth.'
- Germany to create restitution council to return colonia-era acquired cultural artefacts
- FDA approves Wegovy pill for weight loss
