0834 GMT - Novartis's results of an early and midstage study for a neuromuscular-disease drug candidate suggest its $12 billion acquisition of Avidity is starting to pay off, Jefferies says. The study for the drug, del-brax, in the treatment of rare genetic disease facioscapulohumeral muscular dystrophy met the primary goal and reduces risk on the technology platform the Swiss drugmaker acquired through the Avidity deal to some extent, Jefferies says. Still, the main proof point for the Avidity acquisition will be a late-stage study for another drug, del-desiran, in myotonic dystrophy type 1, according to Jefferies. Novartis shares trade 0.15% higher. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

June 11, 2026 04:34 ET (08:34 GMT)

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