0353 GMT - ResMed's chief executive says he was always confident that the emergence of weight-loss drugs such as Ozempic would benefit his breathing-tech company. In 2023, ResMed's stock lost about 40% of its value in less than two months as analysts worried that medication would reduce demand for devices used to treat conditions including sleep apnea. Instead, ResMed CEO Mick Farrell says medication improved awareness of sleep apnea, lifting the number of patients seeking treatment of all forms. ResMed's stock has almost doubled in value since September 2023. "I was happy to be in the conversation with cardiovascular disease, stroke, COPD [chronic obstructive pulmonary disease], sleep apnea and all these chronic diseases. I knew it was huge for awareness." (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 22:53 ET (03:53 GMT)
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