ASX set to slide as oil prices rise; $A stronger

Novartis (NVS) reports promising Phase 3 trial results for remibrutinib in MS, with potential $3B peak annual sales. Kesimpta, its existing MS drug, saw Q2 sales of $1.42B. Analysts highlight growth opportunities but note risks like competition and market maturity.

Novartis (NYSE:NVS) shares fell 1.9% after pelacarsen failed in a Phase 3 trial, erasing CHF4.9 billion in market value. The drug did not reduce cardiovascular events despite lowering lipoprotein(a). The company enrolled 8,323 patients in the Lp(a)HORIZON trial.

Novartis India acquired the Minipress and Minipres trademarks from Pfizer for Rs 1,250 crore. The brands are used for hypertension and BPH treatment, with Minipress XL generating Rs 228.6 crore in revenue. Pfizer will discontinue the product in India.

Amgen shares fell 5% after Novartis' pelacarsen failed to meet its primary endpoint in a phase III study, raising concerns about Lp(a)-lowering therapies. Amgen's olpasiran, also targeting Lp(a), is under investigation. Novartis and Ionis shares also declined. Year-to-date, Amgen shares are up 36.3%.

Novartis AG's experimental cholesterol drug pelacarsen failed in a late-stage study, missing its target of reducing major cardiovascular events. Analysts had projected potential annual sales of $3B to $6B. The company must now rely on other drugs in its pipeline to drive future growth, according to the article.

Novartis' cholesterol drug pelacarsen failed in a late-stage study, causing its shares to drop 3%. The drug had been expected to generate $3B-$6B in annual sales. Investors now focus on upcoming data for del-desiran and remibrutinib. Rival drugs from Amgen and Eli Lilly face increased pressure. Novartis shares are up 20% YTD.