NOVARTIS

Deutsche Bank Research has downgraded Novartis from "Buy" to "Hold" and reduced the price target from 140 to 120 francs. The move follows setbacks in studies of pelacarsen and del‑desiran; the latter is less commercially significant but calls into question the justification for Avidity’s $12 billion takeover. Analyst Emmanuel Papadakis sees this creating uncertainty for Novartis ahead of patent expiries such as Cosenty, Kisqali and Kesimpta in the early 2030s. » More on finanzen.net

Novartis shares fell 10.9% to 111.80 francs on Tuesday after the drug del-desiran missed its target in a study, marking the second major research setback within a few days. As a result, the market capitalization shrank from about 239 to roughly 215 billion francs, a loss of around 24 billion francs. According to an analysis, this one-day loss clearly surpasses previous Swiss negative records such as the SNB intervention in 2015 and the Corona crash in 2020. » More on finanzen.net

Novartis’s phase‑III HARBOR study of del‑desiran for myotonic dystrophy type 1 failed to meet its primary endpoint and triggered a broad sell‑off across the sector. Sarepta fell sharply in premarket trading as investors reassessed the prospects for SRP‑1003 — also an siRNA targeting DMPK RNA but with a different mechanism of action. The decline was exacerbated by an already weak biotech environment, lowered revenue expectations for 2026, and ongoing regulatory uncertainty at Sarepta. » More on de.investing.com