Novartis: heart failure study trial fails; shares fall.

(CercleFinance.com) - Novartis is down two percent on Wednesday morning after a heart failure drug study did not meet its primary endpoints, making the stock one of the sharpest fallers in the SMI index.


The "RELAX-AHF-2" phase III study investigating the efficacy, safety and tolerability of serelaxin in patients with acute heart failure (AHF) did not meet its primary endpoints.

The drug was targeting a reduction in cardiovascular death through day 180 or reduced worsening heart failure through day five when added to standard therapy.

After these findings, Oddo analysts - which keep a "neutral" rating on Novartis, with a target price of 79 Swiss francs, believe that "serelaxin will not be a source of growth".

Oddo's research team - who points out that the product had been turned down by the US FDA in May 2014 - nevertheless considers that the drug could have been a blockbuster, with sales of some two billion dollars.

On Zurich SMI index, Novartis shares are currently down around 2%.

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