Novartis Falls as Judge Rules Entresto Patent Claim Invalid (1)

Novartis AG’s patent for the heart drug Entresto was invalidated by a US judge in Delaware, in a challenge to one of the company’s key products.

Novartis shares closed down 3.2% in Europe, the biggest daily decline in four months, after the ruling by Judge Richard Andrews. The company’s US depositary receipts fell as much as 4.2% in New York.

Entresto, sold in tablet or granule form to treat heart failure, is a pillar of Novartis’s attempt to refocus its portfolio on high-growth innovative drugs. Analysts expect the drug to become Novartis’s best-seller this year, predicting sales of $5.7 ...