The drug at the center of Novartis's $12 billion Avidity acquisition failed to meet primary endpoints in myotonic dystrophy type 1, a setback for the Swiss pharma group.
Novartis faces a Phase III clinical trial setback as the centerpiece drug from its $12 billion acquisition of Avidity failed to meet its primary endpoints in myotonic dystrophy type 1.
The result is material for investors in the Swiss pharmaceutical group, which is a major component of the SMI. The trial outcome is relevant to market sentiment and valuation for Novartis.
Helena covers corporate news for listed and private companies across Europe, from strategy shifts to leadership changes, with an eye for what a story signals about the broader market.
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