Novartis shares fell sharply by 10% on Tuesday following the announcement that its del-desiran drug, developed for a muscle-wasting disorder, failed in a late-stage clinical trial [1]. This marks the third drug trial disappointment for Novartis within a single week, intensifying investor concerns and triggering a significant sell-off in the company's stock [1]. The stock was last reported to be down 10% as the market reacted to the news [1]. No additional details regarding the specific trial results, the muscle-wasting disorder targeted, or forward-looking statements from Novartis or analysts were provided in the article [1].
CONCLUSION
Novartis experienced a substantial 10% share price decline after its del-desiran drug failed a late-stage trial, marking the company's third trial setback in one week. The repeated disappointments have led to heightened investor anxiety and a pronounced negative market reaction.