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NVS Halts Cancer Drug Trial

By Market News Video Staff, Thursday, November 11, 11:57 AM ET

Novartis (NYSE:NVS) said today it has ended phase three trials of an experimental lung cancer drug, ASA404. The drug did not increase survival when used in combination with chemotherapy for to treat advanced non-small cell lung cancer. Novartis will take a $120 million charge related to the trial in the fourth quarter. Novartis shares are trading lower by 1.4% today in New York.

Novartis is the #3 holding of the Market 2000+ HOLDRS (MKH) fund, at 5.66% of the total portfolio. AT&T (NYSE:T) is the top stock, at 6.68% of the portfolio, followed by IBM (NYSE:IBM), at 5.87% of the fund. Exxon Mobil (NYSE:XOM) makes up 5.66% of the fund and Johnson & Johnson (NYSE:JNJ) is 5.1%.


ETF CHANNEL LAUNCHES THE "ETF CHANNEL FLEXIBLE GROWTH INVESTMENT PORTFOLIO"

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