AstraZeneca shares fall sharply after a late-stage clinical trial of a new heart disease drug does not achieve its main efficacy objective. Multiple reports say the trial involved patients with a rare disease and that the therapy failed to significantly reduce cardiovascular deaths and recurring heart-related events compared with the trial’s target. Bloomberg and other outlets report the stock drops by more than 10% on the news, while CNBC cites a drop of about 9%. The company is described as responding through an official statement, with CNBC noting that AstraZeneca says the late-stage trial fails to meet its primary endpoint. Quartz estimates the selloff removes roughly $27 billion in market value. The coverage broadly characterizes the outcome as a trial failure in preventing further heart problems, rather than a safety-only issue. Investors react immediately to the reported efficacy results, reflecting concern about the drug’s future development prospects and potential impact on AstraZeneca’s pipeline and valuation.