(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
South Africa collects record $117B tax haul- Sea Ice Hits New Low in Hottest Year on Record for the Arctic
- UK to hold fresh pork, other affected Spanish products at border amid African swine fever outbreak
- 2025 Was Another Exceptionally Hot Year
- Most loved VR Game for Wellness: Which Keeps You Dynamic?
- The Excursion to Monetary Proficiency: Individual budget Triumphs
- The Artemis II launch is tonight. Here's how to watch it live.
- Journalists killed by Israeli strike in southern Lebanon
- Which '80s Film Actually Holds Up Today?
