BUZZ-ResMed slumps on Lilly's sleep apnea trial for weight-loss drug

Reuters06-24

** ResMed slumps nearly 10% to $185.30 in premarket trading

** Eli Lilly on Friday said its popular weight-loss drug Zepbound helped resolve moderate to severe obstructive sleep apnea in up to 52% of patients in two late-stage trials

** ResMed makes ventilators and machines used for non-invasive treatment of sleep apnea, a condition in which the airway is blocked multiple times while sleeping

** Lilly said it had submitted its application to the U.S. FDA to have Zepbound approved as a treatment for obstructive sleep apnea and would submit to other regulatory agencies globally in the coming weeks

** RMD up ~20% YTD compared to 14.6% rise in the S&P 500

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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