Novartis falls 10% after drug trial setbacks

 The shares of the Swiss pharmaceutical corporation Novartis AG fell by more than 10% on Tuesday following three back-to-back clinical trial setbacks for key experimental drugs.

A late-stage trial of del-desiran, an experimental treatment for a rare muscle-wasting disease, failed to show a statistically significant improvement over placebo. Trials of the experimental heart drug pelacarsen also failed to demonstrate the expected benefit. Separately, the company paused development of an experimental cell therapy after patient deaths, adding further uncertainty to its pipeline.

Novartis' stock plummeted by 10.20% to go for CHF 112.6 at 9:17 am CET.

https://breakingthenews.net/Article/Novartis-falls-10-after-drug-trial-setbacks/67061826