Novartis' failed cardiovascular trial for pelacarsen has roiled the biotech sector, causing a 10% drop in Amgen shares while Eli Lilly maintains stability through its diversified drug portfolio.
Novartis reported pelacarsen failed to meet primary endpoint in cardiovascular outcomes trial, marking third clinical failure in a week.
Amgen's Lp(a) drug is in development; Novartis failure caused 10% drop in Amgen shares due to read-through risk.
Ionis discovered pelacarsen and licensed it to Novartis; trial failure reduces potential royalty stream.
Lilly's lepodisiran takes a different approach and has broader patient group; stock down only 3% on the news, impact limited by diabetes/obesity franchise.
Novartis shares face pressure after its cardiovascular drug pelacarsen failed to meet primary endpoints in a late-stage trial. The setback triggered a 10% decline in Amgen shares due to read-through risks, while Eli Lilly shares remained resilient, supported by its dominant diabetes and obesity franchise.
The failure of pelacarsen raised concerns about the efficacy of the entire class of Lp(a)-lowering drugs, leading investors to sell off competitors like Amgen that are developing similar treatments.