Novartis Lp(a) Trial Fails, Sending Biopharma Options Tumbling
A high-profile clinical trial failure from Novartis AG has triggered major shockwaves across biopharma options trading. Novartis is set for its worst single-session performance on record, and options volume is running about four times normal. Traders are also focusing on Amgen’s olpasiran as HORIZON results raise concerns, alongside elevated AMGN options activity and a downgrade to market perform.