Novartis shares fall over 3% following failed cholesterol drug trial
Novartis stock dropped more than 3% after pelacarsen, its anticipated cholesterol treatment, failed to lower heart attack risk in a major clinical study.
Novartis shares fell more than 3% on Tuesday following disappointing results from a late-stage trial of its new cholesterol medication, pelacarsen. The drug did not successfully reduce the risk of heart attacks or strokes in patients with high levels of Lp(a), a hereditary cardiovascular risk factor. Investors had widely anticipated that pelacarsen would become one of several key growth drivers alongside Rembrutinib and Del-irisan RNA therapy. Analysts projected annual sales between $3 billion and $6 billion if the treatment proved effective. The failure creates uncertainty regarding Novartis' broader efforts to address Lp(a) levels, a condition for which no approved therapies currently exist. Competitors Amgen and Eli Lilly are conducting advanced clinical trials with olpasiran and lepodisiran, respectively. Novartis has also faced patent expiry pressures from its previous blockbuster drug Entresto, prompting reliance on new innovations. The company previously announced the acquisition of Avidity for $12 billion, hoping to expand options in genetic medicine.
