Novartis lawsuit accuses Australian boss of double-dealing with Bastas

European shares fell on Sep 1, with the Stoxx 600 dropping 0.6% to a one-month low of 647.08, as rising bond yields and inflation data increased expectations of an ECB rate hike. Euro zone inflation rose above 3% in August. Novartis gained 6.3% after positive drug trial results, while Partners Group fell 7.3% due to leadership changes and lower performance income.

The Dow fell 419 points as bond yields rose, driven by Middle East tensions and rising oil prices. Energy stocks like Chevron (CVX) gained, while tech stocks declined. Apple (AAPL) rose 2.6% under new leadership. Palo Alto Networks (PANW) dropped 5.2% ahead of earnings. Novartis (NVS) surged 6.0% on positive drug trial results. The 10-year Treasury yield hit 4.792%.

Novartis (NYSE:NVS) shares rose 6% to $161.10 after its MS drug, remibrutinib, succeeded in two Phase 3 trials, showing fewer relapses and brain lesions. The company reported slower disability progression, potentially boosting its market position. Remibrutinib is already sold as Rhapsido for chronic hives, with Q2 sales of $64 million. Full results are expected in October, followed by global regulatory submissions.

Novartis announced positive phase 3 trial results for remibrutinib, an oral BTK inhibitor, in treating relapsing multiple sclerosis (RMS). The REMODEL-1 and REMODEL-2 studies showed significant reduction in annualized relapse rate compared to teriflunomide, with improvements in key secondary outcomes. Novartis plans to submit the data to regulatory authorities for approval.

GoPro (GPRO) +72.3% after Markiplier disclosed 8.5% stake; unusual options activity. Novartis (NVS) +6.5% on positive MS drug trial results. Comstock (CRK) +6% on $1.65B partnership and $450M drilling JV. Howmet (HWM) +3.9% after yesterday's selloff.

Novartis (NVS) shares rose over 7% after its experimental MS drug, remibrutinib, outperformed Sanofi's (SNY) Aubagio in midstage studies, reducing relapse rates. The company reported positive results on key metrics.