ResMed slides as Eli Lilly sleep apnea drug trial resolves issue in 52%
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The news: Shares in ResMed, which provides medical devices for the treatment of sleep apnea, dropped on the ASX after rival Eli Lilly announced that its weight-loss drug Zepbound helped resolve sleep apnea in up to 52% of patients in two late-stage trials.
The numbers: San Diego-based ResMed, which is dual-listed on the ASX and Nasdaq, saw its shares lower 12.5% to $27.96 by 11:05am AEST.
On Friday, US healthcare group Eli Lilly said that results from its latest trials showed Zepbound helped resolve sleep apnea in 43% of patients taking the drug alone, and in 51.5% of those also using positive airway pressure (PAP) therapy.
The context: Data from the trials showed that Zepbound helped lower biomarkers related to sleep apnea, including oxygen desaturation, blood pressure, and C-reactive proteins — signs of inflammation that can indicate heart disease.
The NYSE-listed drugmaker also said it had submitted an application to the US Food and Drug Administration to have Zepbound approved as a treatment for obstructive sleep apnea, and would submit to other global regulatory agencies "in the coming weeks".
The source: Eli Lilly media release
