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Novartis shares plunge following dual clinical trial failures
Novartis shares experienced a significant decline, dropping as much as 10 percent, following two consecutive setbacks in its clinical research pipeline.
First, a Phase 3 trial for the cholesterol-targeting drug pelacarsen, developed in partnership with Ionis Pharmaceuticals, failed to meet its primary endpoint. While the drug successfully lowered lipoprotein(a) levels, it did not result in a statistically significant reduction in major cardiovascular events such as heart attacks or strokes. This failure impacts a drug that analysts had projected could generate annual peak sales between $3 billion and $6 billion.
Second, the company reported that del-desiran, an experimental treatment for myotonic dystrophy type 1, also failed to reach its primary efficacy goal. This second blow has raised questions regarding the strategic value of Novartis’s $12 billion acquisition of Avidity Biosciences. Investors are now closely watching upcoming data for other pipeline assets, including remibrutinibe, to gauge the company's future growth potential.
Entities
Amgen · Avidity · Avidity Biosciences · Barclays · Eli Lilly · Ionis Pharmaceuticals · J.P. Morgan · Jefferies · Jefferies & Company Inc. · Novartis · Vontobel
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Jefferies analysts maintained a 'Hold' rating for Novartis with a price target of 110 CHF. www.finanzen.ch
- [DISPUTED] The success of the del-desiran trial is required to justify the $12 billion Avidity acquisition. www.brasilemfolhas.com.br · www.infomoney.com.br
- [● 4 SOURCES] The drug pelacarsen did not reduce the risk of heart attacks or strokes in clinical trials. www.brasilemfolhas.com.br · www.sharedeals.de · www.philstockworld.com
- [DISPUTED] The drug del-desiran failed to reach its primary endpoint in a study for muscle disease. www.finanzen.ch · www.brasilemfolhas.com.br · www.sharedeals.de · www.bilanz.ch · www.it-boltwise.de · +1 more
- [● 5 SOURCES] Novartis stock price dropped by approximately 10 percent following the clinical trial results. www.finanzen.ch · www.sharedeals.de · www.bilanz.ch · www.it-boltwise.de · www.stranotizie.it