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

Reuters04-18

** Shares of ASX-listed shares of ResMed 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 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;))

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