Novartis ADR Stock News

European drugmakers called for ​beefed-up government spending on medicines, faster trials and IP protections as ‌they sounded warnings on Tuesday that the continent's pharmaceutical industry risks losing out to the United States and China.

Novartis has halted development of an experimental drug ​for amyotrophic lateral sclerosis after it failed to meet goals ‌in a mid-stage study, marking the latest disappointment for the Swiss drugmaker this year.

Novartis added another failure to its docket Wednesday, dropping an experimental treatment for the muscle-wasting disease.

Legend Biotech on Tuesday appointed longtime Novartis executive Ingrid Zhang as its CEO, effective immediately, banking on an ​industry veteran to steer its expansion beyond blockbuster ‌cancer therapy Carvykti.

Ingrid Zhang will take the helm of the cancer therapy company, filling a post vacant since its previous CEO abruptly resigned in July.

Heart disease remains humanity's top killer, yet for drugmakers and Wall Street, it is becoming one of the hardest places to make money.

The bad diagnoses just keep on coming for the Swiss drugmaker.

Novartis investors are set to step up scrutiny of the Swiss group's dealmaking strategy after setbacks to drugs it acquired through mergers and acquisitions hit ​its shares, raising concerns about its pipeline.