Novartis shares plunge after two drug trial setbacks

Swiss pharmaceutical company Novartis suffered two major drug trial setbacks within days, causing its shares to fall by double digits and wiping out about 24 billion Swiss francs in market value. The failures include an experimental drug from Avidity, marking the third setback for Novartis in a week. These setbacks increase pressure on the company's pipeline and its CEO. The stock decline reflects investor concerns about the company's future growth prospects.