Lilly gains as weight-loss drug approved for sleep apnea

ResMed

23/12/2024 10:37

** Shares of U.S. drugmaker Eli Lilly  LLY.N  up 2.5% at
$787 before the bell
    ** U.S Food and Drug Administration on Friday approved
Lilly's weight-loss treatment Zepbound for moderate to severe
sleep apnea, making it the first FDA-approved drug to treat the
common sleeping disorder
    ** Obstructive sleep apnea is a condition in which patients
stop breathing briefly while sleeping
    ** Shares of sleep apnea device makers Resmed  RMD.N  and
Inspire Medical  INSP.N  down about 3% and 4%, respectively, in
premarket trading
    ** Some analysts had previously said they expect disruption
in patient demand for sleep apnea devices following Zepbound's
approval but manufacturers have shrugged off such concerns
    ** As of last close, LLY up ~32%, RMD up ~38% while INSP
down ~8% this year 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))