Updated

Novartis and Ionis Pharmaceuticals reported that their jointly developed cholesterol-lowering drug fell short in a late-stage clinical trial, dealing a setback to the companies' cardiovascular pipeline ambitions. The disappointing results raise questions about the drug's path to approval and the companies' broader cardiovascular strategy. The outcome adds to a mixed picture in the cholesterol-drug development space, where multiple companies have been racing to bring new treatments to market.