AHCO - Why Eli Lilly Stock Beat the Market Today While ResMed and AdaptHealth Sank
2024-04-17 18:51:53 ET
For both the biotech and pharmaceutical industries, what happens in the laboratory is critical to success (or failure, on the flip side).
Some good news from a clinical trial conducted by Eli Lilly (NYSE: LLY) boosted the share price of the pharmaceutical giant (by 0.5%) on Wednesday, leaving several rivals in the dust. These included device makers ResMed (NYSE: RMD) , whose stock suffered a 6% blow, and AdaptHealth (NASDAQ: AHCO) , with a nearly 2% decline.
Before market open, Eli Lilly announced that its molecule tirzepatide had achieved its primary endpoints in a set of phase 3 clinical trials. The studies aimed to judge its efficacy in treating obstructive sleep apnea (OSA), a common disorder in which people struggle to breathe properly while asleep.
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Why Eli Lilly Stock Beat the Market Today While ResMed and AdaptHealth Sank