Why ResMed Shares Are Trading Lower Monday
Portfolio Pulse from Dylan Berman
ResMed, Inc. (NYSE:RMD) shares are trading lower after Eli Lilly and Company (NYSE:LLY) released positive data from its SURMOUNT-OSA phase 3 clinical trial for tirzepatide, a potential treatment for obstructive sleep apnea. The trial showed significant efficacy, posing a competitive threat to ResMed's sleep apnea products.
June 24, 2024 | 6:33 pm
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NEGATIVE IMPACT
ResMed shares fell 11.1% after Eli Lilly released positive phase 3 trial results for tirzepatide, a potential treatment for obstructive sleep apnea, which could compete with ResMed's products.
The positive trial results for tirzepatide present a significant competitive threat to ResMed's sleep apnea treatment products, leading to a sharp decline in ResMed's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly's positive phase 3 trial results for tirzepatide, showing significant efficacy in treating obstructive sleep apnea, could enhance its market position and revenue potential.
The successful trial results for tirzepatide could boost Eli Lilly's market position and revenue potential, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80