Cholesterol drug setback casts doubt over multibillion-dollar race 

Blood sample for a lipoprotein(a) test.Md Babul Hosen | Istock | Getty ImagesNovartis' failure in a closely watched cardiovascular trial has raised questions about one of the pharmaceutical industry's biggest drug races and rival treatments from U.S. heavyweights Amgen and Eli Lilly.The pelacarsen drug, developed jointly with Ionis Pharmaceuticals, reduced a particularly harmful form of cholesterol in a late-stage clinical trial, but failed to significantly improve cardiovascular outcomes, Novartis said after the bell on Friday. The stock fell 3% on Monday.It is the first major clinical setback in the race to develop treatments that lower Lp(a), which elevates cardiovascular risks that are estimated to affect roughly one in five people worldwide and for which there is currently no approved targeted treatment.Stock Chart IconStock chart iconNovartis stockAlthough Amgen and Lilly are testing different technologies that have been shown to produce deeper reductions in the cholesterol called Lp(a), analysts say pelacarsen's failure raises the risk around a market that market watchers expect to be worth billions of dollars."The Lp(a) hypothesis is weakened, but not disproven," Citi analy...