Novartis AG experienced a significant setback as its drug, del-desiran, designed to treat myotonic dystrophy type 1, failed a late-stage clinical trial. This marks the third trial failure for Novartis in a single week, causing its shares to drop by 10%. The drug did not show a statistically significant improvement in the primary endpoint of how quickly patients could open their hands compared to a placebo. This news follows a prior disappointment with its cholesterol drug, and investors had been relying on del-desiran, along with heart drug pelacarsen and anti-inflammatory drug remibrutinib, to drive growth amidst declining sales of Entresto and impending patent expirations in the early 2030s.
The failure of del-desiran, acquired as part of a $12 billion acquisition of Avidity, has raised concerns about Novartis's drug pipeline. The company had aimed for the drug to address myotonic dystrophy, a rare muscle-wasting disease for which there are currently no approved treatments. Despite these setbacks, Novartis stated it is maintaining its guidance for sales growth at a compound annual rate of 5% to 6% between 2025 and 2030.
In contrast to Novartis's struggles, Intel is reportedly planning another 10% price increase for its PC CPUs. This follows continuous price hikes since late 2025. This move comes as Qualcomm and MediaTek are actively targeting gaps in the IPC and IoT markets, creating a competitive environment for Intel.
