ResMed falls after Lilly's weight-loss drug succeeds in sleep apnea trials

Inspire Medical Systems

17/04/2024 15:38

(Updates)
    ** Shares of CPAP machine maker ResMed  RMD.N  fall 3.68% to
$178.06 after Eli Lilly's  LLY.N  weight-loss drug succeeds in
trials testing it in sleep apnea patients
    ** Meanwhile, RMD's peer Inspire Medical  INSP.N  shares
gain ~7% to $236.21
    ** RMD and INSP make medical devices used to treat sleep
apnea, a potentially serious sleep disorder in which breathing
is irregular
    ** Lilly's weight-loss drug tirzepatide helped cut frequency
of irregular breathing in patients with obstructive sleep apnea
(OSA)
    ** Brokerage J.P.Morgan says it doesn't see reduction as
sufficient to replace CPAP or Inspire, but rather tirzepatide
could be used alongside these therapies to treat OSA
    ** "We see this as a win for Inspire" - brokerage
    ** LLY shares up 2.45% to $765.18
    ** RMD shares up 3.16% YTD, INSP up ~14%

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com))