Novartis shares down as failed cholesterol drug study increases pipeline pressure
The setback lowers expectations for Novartis’s Lp(a) strategy and puts more pressure on its next late-stage pipeline readout, analysts said.
- Late on Friday, Novartis announced its cholesterol drug pelacarsen failed a late-stage study, failing to reduce heart attack or stroke risks in patients with high Lp, an inherited cardiovascular risk factor.
- Shares of Novartis fell 3.3% on Monday morning, marking the Swiss drugmaker's second trial disappointment within a week and casting doubt on the therapeutic approach for this genetic risk factor.
- Analysts previously modeled peak annual sales between $3 billion and $6 billion for pelacarsen, while rival Amgen saw its shares drop almost 7% on September 4 after developing a similar heart drug.
- The failure follows a separate recent pause in Novartis trials for an experimental cell therapy after three patients died, raising pressure on the company's upcoming gene therapy data.
- Novartis now focuses on data from del-desiran, an experimental muscular dystrophy drug the company acquired for $12 billion last year to sustain growth as older products lose patent protection.
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Novartis is developing a drug with the active ingredient pelacarsen, which is intended to reduce the risk of heart attacks and strokes. After years of research, the pharmaceutical company is now breaking down the study - the share is also under pressure.
The Swiss pharmaceutical company's papers fell by 3.3 percent on Monday. The new heart medication Pelacarsen missed its target in a study. The share is under pressure.
Novartis shares down as failed cholesterol drug study increases pipeline pressure
LONDON, Sept 7 (Reuters) - Shares of Novartis fell 3.3% on Monday morning after its cholesterol drug failed in a closely watched study, casting fresh doubt on the therapeutic approach and raising the stakes for the Swiss drugmaker's upcoming data...
Reformatorisch Dagblad
welingelichtekringen.nlNovartis lost more than 3 percent of its market value on the Zurich stock exchange on Monday. The Swiss pharmaceutical company suffered a second setback in its drug research within a week, after a promising heart medication turned out not to work as well as expected in an advanced study. Investors were shocked by this.
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