Novartis' failed cholesterol drug trial for pelacarsen caused a sharp 14% drop in its stock and dragged down the entire Lp(a) drug class, hitting Amgen hardest with a 10% decline despite Amgen's positive Phase 3 lung cancer trial results announced the same day. The failure raises doubts about the effectiveness of Lp(a)-lowering therapies, impacting Amgen's Olpasiran program and Eli Lilly's similar efforts. However, Amgen's cancer drug trial showed significant survival benefits, offering a near-term commercial opportunity. Investors are cautious, awaiting further data and expert commentary to clarify the future of Lp(a) treatments.
Jim Cramer recommended buying Johnson & Johnson (JNJ) shares during a recent dip, citing upcoming data from the Psych Congress conference and strong sales growth. Despite a 2.33% drop in the session, JNJ has outperformed the market with a 53.76% gain...
Investment firm BMO Capital downgraded Amgen's stock from "Outperform" to "Market Perform" following a major clinical trial failure by Novartis for a similar cholesterol drug. Novartis' drug pelacarsen failed in a late-stage Phase III trial, casting ...
Amgen's Phase 3 DeLLphi-305 study demonstrated that IMDELLTRA (tarlatamab-dlle) combined with AstraZeneca's durvalumab significantly improves overall survival, progression-free survival, and response rates compared to durvalumab alone in patients wit...
Novartis announced that its drug pelacarsen, designed to lower the harmful cholesterol Lp(a), failed to significantly reduce cardiovascular events in a late-stage trial. This setback raises doubts about the effectiveness of targeting Lp(a) to prevent...
Representative David J. Taylor of Ohio reported six stock trades, selling biotech and tech shares like Amgen and Microsoft, while buying utilities, semiconductors, and regional bank stocks such as American Electric Power, Broadcom, and Fifth Third Ba...
