Swiss pharmaceutical giant Novartis announced it will acquire U.S.-based Avidity Biosciences in a $12 billion all-cash deal, paying $72 per share — a 46% premium to Avidity’s Friday closing price.
The transaction is expected to close in the first half of 2026, following Avidity’s planned spinoff of early-stage precision cardiology programs, the company said.
Novartis CEO Vas Narasimhan praised Avidity’s “industry-leading delivery of RNA therapeutics to muscle tissue,” adding that the acquisition will help accelerate treatments that can transform patient outcomes.
Following the deal, Novartis raised its sales growth forecast between 2024 and 2029 to 6% annually, up from 5%.
Avidity develops an innovative class of RNA-based drugs called antibody oligonucleotide conjugates, designed to alter gene expression to treat or prevent disease.
The acquisition underscores Novartis’s broader push into RNA therapeutics and cardiovascular medicine, following recent partnerships with Anthos Therapeutics and Regulus Therapeutics.
Earlier this year, Novartis also announced a $23 billion investment to expand its U.S. research and development operations, including a new R&D hub in San Diego.Avidity’s stock, valued at about $7.2 billion, closed at $49.15 on Friday, up nearly 70% year-to-date, while Novartis shares closed at $130.36.