NewsDialy
A failed clinical trial wiped nearly $30 billion from Novartis's market value this week after shares fell 11% in a single session, erasing all the gains the stock had made since the start of the year.
The drug that failed, del-desiran, was being tested for a muscle-wasting disorder in what is called a late-stage study, meaning the final major round of testing before a company can ask regulators to approve a treatment for real-world use.
It was the second major setback for Novartis in just days.
Eight shareholders told Reuters that the del-desiran result raised questions about last year's $12 billion Avidity acquisition and the company's broader dealmaking approach.
Keep reading