For both the biotech and pharmaceutical industries, what happens in the laboratory is critical to success (or failure, on the flip side).

Some good news from a clinical trial conducted by Eli Lilly (NYSE: LLY) boosted the share price of the pharmaceutical giant (by 0.5%) on Wednesday, leaving several rivals in the dust. These included device makers (NYSE: RMD), whose stock suffered a 6% blow, and AdaptHealth (NASDAQ: AHCO), with a nearly 2% decline.

Before market open, Eli Lilly announced that its molecule tirzepatide had achieved its primary endpoints in a set of phase 3 clinical trials. The studies aimed to judge its efficacy in treating obstructive sleep apnea (OSA), a common disorder in which people struggle to breathe properly while asleep.

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Source Fool.com