Novartis Shares Fall After Deutsche Bank Downgrade on Trial Failures
Novartis shares fell for a third straight session after Deutsche Bank downgraded the drugmaker, citing recent failures in two late-stage trials. The biggest hit followed Tuesday’s Phase 3 failure of del-desiran, an RNA-based therapy, in myotonic dystrophy type 1. The downgrade also added pressure after a Friday late-stage failure for a heart disease therapy developed with Ionis.