Amgen Shares Fall as Novartis' Pelacarsen Misses Phase III Study Goal

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.

European stocks were mixed, with energy stocks rising due to higher oil prices after US-Iran tensions. Novartis fell 3.2% after a drug trial failure, while SOITEC and Infineon gained. ASX futures indicate a 0.1% drop. Brent crude reached $98/barrel. Investors remain optimistic despite energy price sensitivity.

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.

The FDA approved Ionis Pharmaceuticals' Zanvastro (zilganersen) for Alexander disease, a rare neurological disorder. The first treatment for the condition, it targets the protein buildup causing the disease. Approval was based on a small clinical trial showing improved walking speed and motor function. Side effects include vomiting, back pain, and meningitis. The drug will be available in the U.S. soon, with pricing undisclosed. Ionis licensed rights outside the U.S. to Recordati.

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.