ASX-listed shares of ResMed sink after Lilly's drug reduces sleep apnea severity

** Shares of ASX-listed shares of ResMed RMD slump as much as 6.3% to A$27.050, set to see their worst day since Aug 7, 2023 - if losses hold

** Eli Lilly LLY said on Wednesday that its weight-loss drug helped reduce episodes of irregular breathing associated with sleep apnea - a common sleep-related disorder

** RMD makes devices that are used to treat sleep apnea, thereby stoking competition concerns

** Shares hit lowest since March 4

** ASX-listed shares emerge as top loser on benchmark

** Stock has risen 13.5% this year as of last close