MarketPR
A disappointing readout from Novartis's del-desiran drug trial, combined with two additional clinical program setbacks on the same session, sent shares of the pharmaceutical major down 10% on Tuesday.
Three programs coming up short in a single session puts $NVS squarely in focus. Del-desiran was the named catalyst. The data arrived Tuesday and did not clear the bar that investors had set, and the tape responded.
When a single trial misses, a session tends to absorb it and move. Three misses at once is a different question, one the market started asking with the opening print.
Novartis has not, in early reporting, put a specific number on what each program represented to its pipeline or offered revised guidance on what the setbacks mean for near-term revenue.
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