Market Chatter: Novartis Shareholder Urges Board Changes After Trial Failures

MT Newswires Live
Yesterday

Novartis (NVS) shareholder Artisan Partners called for changes to the Swiss drugmaker's board following two consecutive drug trial setbacks that sent shares tumbling, Reuters reported Thursday, citing an interview with Artisan managing director David Samra.

Novartis needs stronger oversight of acquisitions, citing the $12 billion Avidity deal and the 2024 MorphoSys acquisition, which was later written down, Samra told Reuters

Samra questioned the board's acquisition oversight, while Novartis reaffirmed its unchanged guidance and focus on disciplined capital allocation and shareholder returns, Reuters added.

Novartis shares were up 1.7% in premarket activity.

Novartis did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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