Novartis's Failed Trial for Cholesterol Drug Leads to Broad Biopharma Stock Selloff

3-line summary

• Novartis's failed trial for a cholesterol drug led to a broad biopharma stock selloff, according to a MarketWatch report.
• Along with several other drugmakers, Novartis had bet that lowering Lp(a) would cut the risk of sometimes-fatal cardiovascular events, the report said.

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