0817 GMT - Novartis's latest clinical-trial failure suggests the company might need more dealmaking to deliver on its ambition for steady growth beyond 2030, Jefferies analysts say in a research note. The Swiss drugmaker maintained its 2025-30 sales guidance as it said its neuromuscular drug del-desiran missed the main goal in a late-stage study. However, no comment was provided on the ambition to grow by mid-single percentage digits beyond 2030, the analysts say. Even with the recent success of a new multiple-sclerosis pill, it will be challenging to get confidence on the company's growth for the 2030s without del-desiran and del-brax, two drugs Novartis acquired from Avidity Biosciences, Jefferies says. As a result, dealmaking will likely remain part of Novartis's story, the analysts add. Shares fall 10%.