Mesoblast shares tank as Novartis terminates deal

Carrie LaFrenz and Tom Richardson

Dec 14, 2021 – 5.40pm

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Shares in Mesoblast tumbled 17.4 per cent on Tuesday after Swiss pharma giant Novartis Pharmaceuticals terminated its proposed deal to fund development of Mesoblast’s remestemcel-L drug for the potential treatment of ventilator dependent COVID-19 patients.