Pharma major Novartis falls 10% after three drug trial setbacks

Novartis shares tanked on Tuesday after the company announced its del-desiran drug for muscle-wasting disorder failed in a late-stage trial.

• Novartis shares fell 10% after three drug trial setbacks.
• Del-desiran drug for muscle-wasting disorder failed in a late-stage trial.
• Third drug trial setback for Novartis in a week.
• Stock down almost 10.5% in late afternoon trade.
• Investors reacted negatively to the trial results.