ResMed and CSL have been hit hard by the Ozempic and Wegovy wave, but the reality is that no one knows how the GLP-1 drug landscape will play out.
It was a year ago that a tweet from Elon Musk regarding how he achieved dramatic weight loss sent Google searches for the words Ozempic and Wegovy skyrocketing and #Ozempic going viral on TikTok.
The step change happened in August with the release of data from Novo Nordisk’s SELECT trial with its obesity drug, Wegovy. The first GLP-1 drug was approved in 2005 for type 2 diabetes and over the years it has substantially improved, with trials demonstrating greater efficacy and larger amounts of weight loss than the older versions.
ResMed has lost a third of its market capitalisation in less than three months. However, the exact impact on the company from GLP-1 drugs is not as clear-cut as it would seem. While obesity is a large contributing factor to developing sleep apnoea, it is not the only factor.ResMed believes that GLP-1 drugs may increase the awareness and diagnosis of sleep apnoea.
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