Sleep devices giant ResMed has brushed off investor fears that transformative weight-loss drugs threaten long-term demand for its sleep apnoea devices after posting better-than-expected first-quarter revenues and margins as sales of its devices and masks continue to surge.

Chief executive Mick Farrell said he was not concerned about the growing availability of new drugs, including a product by pharmaceutical giant Eli Lilly expected to be approved by US regulators soon that directly treats sleep apnoea.