Approximately a third or 30% of sleep apnoea is related to...

Approximately a third or 30% of sleep apnoea is related to obesity/unhealthy body weight.

Even if Ozempic or similar drugs are successful, you would need every single obese person with sleep apnoea to start using the drug and be instantly cured in the next 6 - 12 months to have a significant paper impact to profit. An obese person losing the weight may still not cure their sleep apnoea.

They would also need to then continue using the drug indefinitely. This would cost upwards of $160 a month minimum to sustain, so about $1,920 a year. Resmeds base model is $1,200 or less. Even with masks/consumables it's more economical and 100% guaranteed to use a Resmed solution.

Most people don't have $2k sitting around to sped on weight loss each year/year in, year out.

The business also has strong management, good technical capability and an existing network for sales and distribution. There's potential to grow into other areas of med-device quickly and easily even if revenue is impacted significantly.

You would have to be a moron to think 100% of obesity will be cured in the next 12 months. The market has definitely over reacted on this one...IMO