Novartis Faces Investor Scrutiny After Trial Setbacks
Novartis investors are increasing scrutiny of the drugmaker's dealmaking strategy following recent trial setbacks that wiped billions off its market value. Shareholders are raising questions about past acquisitions and demanding closer oversight for future transactions to address looming patent expiries.
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Novartis AG-REG shares slumped 11% in one day, wiping $30B off its market value following back-to-back late-stage clinical trial failures. The steep sell-off erases all gains made since the start of the year for the Switzerland-based pharmaceutical giant. Investors are now questioning CEO Vas Narasimhan's $30B acquisition strategy as looming patent expiries threaten future revenue.
