Royalty Pharma Shares Fall After Novartis' Pelacarsen Fails Trial

04:04 PM EDT, 09/08/2026 (MT Newswires) -- Royalty Pharma (RPRX) shares fell nearly 6% in Tuesday trading after Novartis' (NVS) experimental heart drug pelacarsen failed in a late-stage trial last week, a study in which Royalty Pharma had an indirect financial interest. Novartis' Phase III Lp(a)HORIZON trial of pelacarsen, developed with Ionis Pharmaceuticals, did not meet its primary endpoint of reducing the risk of cardiovascular events compared with placebo, according to a statement released late Friday. Royalty Pharma entered a $500 million funding agreement with Ionis in 2023 that gives it rights to future royalties from Spinraza and pelacarsen. Despite the pelacarsen failure, Royalty Pharma expects to recoup its total investment and make a modest positive return, the company said Friday. Price: 60.48, Change: -3.48, Percent Change: -5.44