Novartis twin drug setbacks pressure pipeline and CEO

Earnings Impact 4
โดย Reuters·CH·Read original
Summary · why it matters

Novartis said its experimental drug for a muscle-wasting disorder failed a late-stage study, the second major trial setback in days, sending shares down about 9% in one of its worst trading days on record. The failure of del-desiran, acquired through the recent $12 billion purchase of Avidity, increases pressure on CEO Vas Narasimhan and his M&A strategy. The drug was being tested for myotonic dystrophy, a disease with no approved treatments, and analysts had estimated peak annual sales of $3.1 billion with a 60% chance of success. The slide wiped about 24 billion Swiss francs ($29.6 billion) off market value, and shares of Dyne Therapeutics and Sarepta Therapeutics fell 30% and 15.5% respectively. Novartis reiterated its full-year guidance, expecting sales to grow at a compound annual rate of 5% to 6% between 2025 and 2030.

Impact on stocks 3

Biotech & Genomic Medicine▼ · 3 stocks
Novartis AG
NOVN
▼ NegativeCapitalTechnologyrelevance

The failure of a drug from the $12 billion Avidity acquisition pressures CEO Narasimhan and his M&A strategy, wiping ~24 billion Swiss francs off market value.

Dyne Therapeutics Inc
DYN
▼ NegativeCompetitionrelevance

Dyne shares fell 30% as Novartis's del-desiran failure in myotonic dystrophy hit sentiment on rival developers in the same space.

Sarepta Therapeutics Inc
SRPT
▼ NegativeCompetitionrelevance

Sarepta shares fell 15.5% amid the read-across from Novartis's failed muscle-wasting drug trial.

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