RMD - 3 Reasons ResMed's CEO Isn't Worried About Ozempic or Wegovy
2023-09-01 06:21:00 ET
Every quarter, investors get excited for companies to report earnings. Some want the updated numbers that management teams share. Others are more curious to hear about plans and projections. Executives' comments are well-scripted and aren't usually controversial enough to call their judgment into question. But sometimes they are.
On ResMed 's (NYSE: RMD) most recent earnings call, CEO Mick Farrell gave three reasons he wasn't concerned about the threat to his company's business posed by GLP-1 weight-loss drugs like Wegovy and Ozempic. That point needed to be addressed since ResMed stock has fallen by 21% year to date while the maker of those drugs, Novo Nordisk (NYSE: NVO) , has climbed 39%.
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3 Reasons ResMed's CEO Isn't Worried About Ozempic or Wegovy