Novartis Stock Slumps After Drugmaker's Earnings, Guidance Fall Short of Expectations
Novartis(NVS) Investopedia·2024-02-01 03:10
Key TakeawaysNovartis missed forecasts for quarterly results and guidance, and ended a cancer drug study.The drug maker's sales increased, boosted by its heart medicine, Entresto.Novartis stopped research on an experimental cancer treatment, sabatolimab, after it failed to meet its primary endpoint in a Phase 3 trial.Novartis shares, which hit an all-time high earlier this month, were down more than 3% in mid-afternoon trading.Novartis (NVS) announced fourth-quarter results and guidance Wednesday that fell ...