Novartis to buy U.S. biotech firm Avidity Biosciences for about $12 billion in cash | Novartis ag…

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Novartis to buy U.S. biotech firm Avidity Biosciences for about $12 billion in cash

Swiss pharmaceutical giant Novartis has agreed to buy biotechnology company Avidity Biosciences for about $12 billion, the company said Sunday.

Novartis will pay Avidity shareholders $72 a share in cash, a premium of 46% to the company's Friday closing price.

The deal is expected to close in the first half of 2026, after Avidity spins out parts of its business, including its early-stage precision cardiology programs, the company said in a statement.

"The Avidity team has built robust programs with industry-leading delivery of RNA therapeutics to muscle tissue," Novartis CEO Vas Narasimhan said in the statement. "We look forward to developing these programs to meaningfully change the trajectory of diseases for patients."

Novartis agrees to acquire Avidity Biosciences, an innovator in RNA therapeutics, strengthening its late-stage neuroscience pipeline

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