Three Trial Failures in One Week! Novartis Shares Plunge Nearly 10%, Marking Biggest Single-Day Drop Since March 2020

Swiss pharmaceutical giant Novartis faced three clinical setbacks within a week, with European shares falling over 9%. The Phase 3 failure of its core candidate drug del-desiran has also cast doubt on the value of the $12 billion Avidity acquisition. Analysts believe the pipeline pressure could weaken Novartis' mid-to-long-term growth prospects, and its M&A capabilities will face stricter scrutiny.