Investors wiped $70 billion off Novo Nordisk's market value on Tuesday after the maker of weight-loss drug Wegovy issued a profit warning and named a new CEO, as it battles rising competition in the obesity drug market.

Novo Nordisk’s shock profit downgrade and 22% share price plunge spooked global markets. But for ResMed shareholders, the story could have a silver lining — with sentiment finally shifting back toward a more balanced view of sleep apnoea treatment.

Danish pharmaceutical giant Novo Nordisk (NYSE:NVO) is watching its stock plummet 20% in morning trading after slashing its full-year sales and profit outlook for the second time this year. The announcement,