Novartis shares down as failed cholesterol drug study increases pipeline pressure
Novartis said pelacarsen lowered Lp(a) in a large late-stage trial, but the result did not cut deaths, heart attacks or strokes, analysts said.
- On Monday, Novartis shares fell up to 3.9% after its heart drug pelacarsen failed to reduce heart attack and stroke risk in a late-stage study reported Friday.
- Although pelacarsen successfully lowered lipoprotein levels, a genetic cardiovascular risk factor affecting roughly one in five people, the reduction did not translate into fewer deaths, heart attacks, or strokes.
- Analysts had projected peak annual sales between $3 billion and $5.4 billion for pelacarsen, though Jefferies assigned the drug just a 30 per cent probability of success before the trial.
- The disappointment arrives amid a mixed week: Novartis's multiple sclerosis pill remibrutinib succeeded in two trials on Sept 1, yet the failure increases pressure on the company's $12 billion Avidity acquisition.
- Chief executive officer Vas Narasimhan is counting on new medicines to sustain growth through 2030, but the pelacarsen failure raises the stakes as rivals Amgen and Eli Lilly pursue their own late-stage trials.
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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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