Novartis seen down after second pipeline setback in two days
08/09/2026 07:41
BUZZ-Novartis seen down after second pipeline setback in two days **Shares in Novartis NOVN.S are seen falling 5.2% in Julius Baer pre-market indications after the Swiss drugmaker said late-stage testing of del-desiran for the treatment of myotonic dystrophy failed to meet its primary endpoint
** The result marks Novartis' second major pipeline setback in two days, after cholesterol drug pelacarsen failed in a closely watched late-stage trial
** Vontobel calls the result a "major pipeline setback" and cuts its price target to CHF 125 from CHF 128, citing declining confidence in the company's neuromuscular drugs pipeline
** Novartis reiterates its guidance for average annual sales growth of 5-6% between 2025 and 2030
($1 = 0.8088 Swiss francs)
(Reporting by Kira Britten)
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