Novartis to Acquire Avidity Biosciences for $12 Billion
Novartis has agreed to acquire Avidity Biosciences in an all-cash deal valued at approximately $12 billion.
The transaction will give Novartis full ownership of Avidity’s RNA-based antibody-oligonucleotide conjugate platform and three advanced programmes targeting neuromuscular disorders, including:
- Duchenne muscular dystrophy
- Myotonic dystrophy type 1
- Facioscapulohumeral muscular dystrophy
The purchase underscores Novartis’s strategy to expand into rare and genetic diseases as it faces increasing competition for some of its established medicines.
Avidity’s innovative platform enables precise delivery of RNA therapeutics to muscle tissue, a capability that has generated strong industry interest.
Author's summary: Novartis acquires Avidity Biosciences for $12 billion to boost genetic medicine pipeline.
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