Novartis announced that its experimental heart drug, pelacarsen, failed to meet its primary endpoint in a closely watched clinical trial, shocking cardiologists and investors.
The failure of the trial, which was intended to demonstrate the drug's efficacy in reducing cholesterol, has led to a reassessment of the company's cardiovascular pipeline.
Royalty Pharma, which holds rights to the drug, stated it expects only modest returns following the setback, as the market reacts to the disappointing clinical data.