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BREAKING LIVEvia finance.yahoo.comBusiness & Companies

Novartis shelves potential blockbuster pelacarsen after landmark study fails

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com - Novartis AG is largely abandoning the development of its experimental cardiovascular drug pelacarsen, once projected to be a multi-billion-dollar blockbuster, after full study data showed it failed to reduce heart attacks, strokes, or cardiovascular deaths…

Read at the source ↗
MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishFailure of a drug once projected as a multi-billion blockbuster weighs on the growth outlook of a major drugmaker.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Novartis is largely abandoning development of pelacarsen, an experimental cardiovascular drug.
  2. 02Full study data showed no reduction in heart attacks, strokes or cardiovascular deaths despite sharply lowering cholesterol.
  3. 03Novartis will keep only one mid-stage study active to evaluate the drug for calcific aortic valve stenosis.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Novartis AGNVSStock162.55 USDMarket closedtoday +0.38%Negative Novartis AGNVSEFStock160.97 USDMarket closedtoday +0.46%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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