@Solvetheriddle and @Mujo It's hard to know what the GLP1's impact will be - lots of second and third order impacts to take a guess on.
The much bigger risk for me was always a new drug, with limited side effects, that actually treats sleep apnea. And it looks like we may have one, which caused the 5% share price drop in a day when the first stage 3 results were released a few weeks ago. The next part of the stage 3 is due in a few months. If it also shows excellent results and limited side effects, then the Resmed growth story for the next decade plus is seriously impacted. Not many people will go for a mask on their face every night for the rest of their lives, if the daily drug gives them a similar outcome...
https://www.science.org/content/article/sleep-apnea-pill-shows-striking-success-large-clinical-trial
Resmed is a great business and the market leader but this is always the big risk with healthcare leaders. One day someone else comes along with a better/cheaper way to treat the problem and then overtime that becomes the new first choice for the medical profession and their patients...