
Novartis AG (NVS) was down sharply at the middle of the session after an FDA warning. The company’s drug, GILENYA, was warned to cause severe worsening of M.S. symptoms once a patient discontinues use of the treatment. This caused the stock to drop sharply from just above $89 to nearly $86. The stock closed the session at $86.95. All things considered, the market seems to have absorbed the news well. Here’s a recap.