Novartis Shares Fall After Key Clinical Trial Failures
On Tuesday, Novartis AG's stock experienced one of its sharpest declines in recent history following the announcement that two key clinical trials failed to meet their primary endpoints. The Phase 3 HARBOR trial for del-desiran did not show statistically significant improvement over placebo in treating myotonic dystrophy type 1 (DM1). Additionally, Novartis reported that pelacarsen also missed its cardiovascular outcomes endpoint despite lowering Lp(a) levels effectively. The setbacks have had a ripple effect on partners. Ionis Pharmaceuticals and Royalty Pharma both saw their shares fall as investors reacted to the news. These failures come amid high expectations for therapies developed through Novartis's $12 billion acquisition of Avidity Biosciences, raising concerns about future pipeline progress. Novartis is now reviewing its data and plans to consult with health authorities on next steps.
