Novartis Nears $70 Billion Acquisition of Avidity Biosciences for RNA Therapeutics Expansion

Novartis is nearing a significant acquisition of Avidity Biosciences, with the deal reportedly valued at over $70 per share. This acquisition aligns with Novartis's strategic expansion in neuroscience and biosciences, particularly enhancing its pipeline with innovative RNA therapeutics targeting neuromuscular diseases such as myotonic dystrophy type 1, facioscapulohumeral muscular dystrophy, and Duchenne muscular dystrophy. Avidity's pioneering Antibody Oligonucleotide Conjugates (AOCs™) platform offers potential first-in-class, late-stage disease-modifying therapies that complement Novartis's commitment to developing targeted, genetic disease treatments. The acquisition supports Novartis's broader investment strategy, including a $23 billion commitment to expanding its U.S.-based R&D infrastructure. Avidity Biosciences, known for its RNA therapeutics platform, has seen a nearly 70% stock price increase this year, highlighting strong market confidence. This move is expected to bolster Novartis's position in the healthcare sector and accelerate its innovation pipeline for devastating, progressive neuromuscular diseases.