ASX-listed shares of ResMed sink after Lilly's drug reduces sleep apnea severity

ResMed

18/04/2024 02:12

** Shares of ASX-listed shares of ResMed  RMD.AX  slump as
much as 6.3% to A$27.050, set to see their worst day since Aug
7, 2023 - if losses hold 
    ** Eli Lilly  LLY.N  said on Wednesday that its weight-loss
drug helped reduce episodes of irregular breathing associated
with sleep apnea - a common sleep-related disorder 
    ** RMD makes devices that are used to treat sleep apnea,
thereby stoking competition concerns  
    ** Shares hit lowest since March 4 
    ** ASX-listed shares emerge as top loser on benchmark 
    ** Stock has risen 13.5% this year as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))