Novartis Nears $70-Per-Share Deal to Acquire Avidity Biosciences

Swiss pharmaceutical giant Novartis AG is reportedly close to acquiring U.S.-based Avidity Biosciences for over $70 per share, according to a Bloomberg News report citing sources familiar with the matter. The deal, which could be announced as early as Sunday, would mark another major step in Novartis’s strategic expansion to strengthen its biotechnology and RNA-based therapeutics portfolio.

Strategic Move to Boost Drug Pipeline

Novartis has been on an acquisition spree in 2025, targeting innovative biotech firms to expand its research and development pipeline. Earlier this year, reports from the Financial Times suggested that Novartis had approached Avidity Biosciences with a takeover proposal, signaling strong interest in the company’s RNA-targeted therapies for rare muscle and neuromuscular diseases.

Industry Implications and Growth Outlook

If finalized, the acquisition would represent a significant premium for Avidity’s shareholders and further solidify Novartis’s presence in the fast-growing RNA therapeutics space. The move underscores Novartis’s focus on diversifying its innovation base and accelerating growth through targeted biotech acquisitions, positioning it as a key player in next-generation genetic medicine development.