Why did Novartis shares drop sharply, and what were the two recent drug trial setbacks mentioned?

Novartis shares tumbled 8.8% after its late-stage trial of del-desiran for myotonic dystrophy failed to meet its primary endpoint; this followed another setback announced the previous day, when its experimental cholesterol drug pelacarsen also failed to deliver positive results in a late-stage trial.

What caused European shares to decline on Tuesday, and which specific oil price and geopolitical development contributed most directly?

European shares edged lower as rising oil prices revived inflation worries and supply concerns over a prolonged Middle East conflict; Brent crude futures climbed to $98.5 per barrel after Iran threatened to retaliate against any new attacks by targeting energy infrastructure across the Gulf, including U.S. oil and gas interests.

European Shares Dip as Higher Crude Revives Inflation Worries; Novartis Drags

Sep 8, 2026

European shares declined as rising crude oil prices fueled inflation fears, while Novartis stock tumbled following two failed late-stage drug trials. Meanwhile, Sandoz gained ground on ambitious sales targets despite the broader market slump.

reuters

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