Novartis slumps after third trial setback in a week

Novartis’ Phase III failure of del-desiran for myotonic dystrophy type 1 sent shares down about 10%, marking the third drug-trial setback in a week and fueling questions about growth targets. Management will reassess the development path while sticking to a 5%-6% annual sales growth outlook to 2030, though analysts doubt the target without more M&A. Separately, remibrutinib showed positive MS results, but the broader pipeline and implications of the Avidity deal and patent expiries keep investors wary.