Amgen Falls 10% as Novartis Trial Failure Clouds a Cholesterol Drug Class; NVS Stock Drops 14%
Amgen (AMGN) shares fell 10% to $394.38 in Tuesday trading, driven by a sector-wide repricing of Lp(a) cholesterol drugs following Novartis's failed pelacarsen trial. Despite Amgen posting positive Phase 3 results for its IMDELLTRA study in small cell lung cancer on the same morning, investors...