Healthcare Stocks Rebound as Lilly Reports Foundayo Trial Results

Eli Lilly said Foundayo significantly reduced the severity of obstructive sleep apnea in a late-stage clinical program, a result that could broaden the drug’s potential use beyond obesity treatment. The company said the study met its primary endpoint, reducing nighttime breathing interruptions among adults with moderate-to-severe sleep apnea who had obesity or were overweight.

The Food and Drug Administration said makers of blockbuster drugs including Ozempic and Zepbound must add warnings about NAION, a rare eye condition that can cause permanent vision loss. In a safety communication, the agency said the drugs may carry an increased risk of the condition, which can lead to partial blindness.

Ionis Pharmaceuticals shares plunged after the company cut revenue guidance for Tryngolza, citing slower-than-expected sales. The drug is intended to lower severe blood fats and help prevent pancreatitis in people with severe hypertriglyceridemia and familial chylomicronemia syndrome.