Novartis shares down as failed cholesterol drug study increases pipeline pressure
NVS•Pressure builds on pipeline and rival Lp(a) drugs
The failure raises the bar for rival Lp(a)-lowering drugs from Amgen AMGN and Eli Lilly LLY, both running late-stage trials. It also increases the pressure on data from an experimental muscular dystrophy drug del-desiran, which Novartis spent $12 billion to acquire last year.
Analysts had modeled peak annual sales between $3 billion and $6 billion for pelacarsen.
Novartis shares fall after pelacarsen trial failure
LONDON, Sept. 7 (Reuters) - Shares of Novartis NVS 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 for a gene therapy.
Late on Friday, Novartis said its drug pelacarsen did not cut heart attack and stroke risk in a large, late-stage study of patients with high Lp(a), an inherited, cholesterol-related risk factor with no approved targeted treatments.
