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Novartis to Buy Avidity for $12 Billion in Cash at $72 a Share

The deal advances Novartis’s rare-disease strategy through Avidity’s muscle-targeted RNA platform.

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The company's logo is seen at a building of Swiss drugmaker Novartis in Rotkreuz, Switzerland, January 29, 2020. REUTERS/Arnd Wiegmann/File Photo
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Avidity Biosciences is focused on RNA therapeutics for muscle-targeted delivery. Credit: luchschenF/Shutterstock.com.

Overview

  • Novartis agreed to acquire Avidity for $72 per share in cash, valuing the company at about $12 billion.
  • The transaction is expected to close in the first half of 2026, subject to customary conditions and regulatory approvals.
  • Avidity will spin off its early-stage precision cardiology programs into a new publicly traded company for existing shareholders.
  • Novartis gains Avidity’s AOC platform and three late-stage neuromuscular programs for Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy and myotonic dystrophy type 1, with key filings and readouts anticipated in 2026.
  • Novartis says the purchase will strengthen its rare-disease pipeline and unlock multibillion-dollar opportunities, and the price reflects a 46% premium to Avidity’s prior close.