Novartis hit by another major setback – shares plunge
Novartis has suffered another major pipeline setback. A key drug candidate acquired through its $12bn takeover of Avidity has failed in phase III, sending the company’s shares down around 10 per cent.
The drug in question is del-desiran, which Novartis gained access to through its $12bn acquisition of Avidity Biosciences.
The news comes hot on the heels of another pipeline disappointment. Yesterday, Life Science Nordic reported that cardiovascular candidate pelacarsen had failed to reduce the risk of heart attack, stroke and cardiovascular death in a large phase III trial.
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