Novartis Shares Down as Failed Cholesterol Drug Study Increases Pipeline Pressure
The company said the studies were unlikely to succeed after an independent review, following an earlier trial that failed to cut major cardiovascular events.
- On Friday, Novartis announced its experimental heart drug pelacarsen failed a late-stage study, unable to reduce the risk of heart attacks and strokes compared with placebo.
- Shares of Novartis fell 3.9 per cent on Monday, the biggest decline in over four months, while rival Amgen dropped almost 7 per cent on Friday following the setback.
- Novo Nordisk halted two additional trials of its experimental cardiovascular drug ziltivekimab on Monday after an independent committee found a "low likelihood" either study would succeed.
- The failure increases pressure on Novartis' experimental muscular dystrophy drug del-desiran, which the company spent $12 billion to acquire last year amid portfolio restructuring.
- Chief executive officer Vas Narasimhan has said successful late-stage trials could allow the company to raise its forecast for 5 to 6 per cent annual sales growth till 2030, though analysts had modeled peak sales between $3 billion and $6 billion for pelacarsen.
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21 Articles
Novo Nordisk decided to close in advance two clinical studies evaluating ziltivekimab, its experimental medicine for the treatment of patients with heart failure and inflammation, after concluding that it was unlikely to reach the expected clinical outcomes. Exclusive material for subscribers. To have full access, access the material link and register.
Pelacarsen lowers an important risk factor for cardiovascular diseases. However, this alone does not seem to protect against life-threatening events.
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.
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