Novartis to acquire Avidity Biosciences for about $12 billion

Swiss drugmaker Novartis said on Sunday that it has agreed to acquire US biotechnology company Avidity Biosciences for about $12 billion in cash.

Avidity shareholders will receive $72 per share in cash, representing a 46% premium to the company’s close on Friday.

Under the terms of the deal, Avidity will spin off its early-stage precision cardiology programs into a new company called Spinco.
Novartis is actively pursuing deals in 2025 as it aims to strengthen its drug pipeline and fuel future growth, and the Financial Times reported in August that the Swiss drugmaker had approached Avidity Biosciences for a potential acquisition offer.