LONDON — Novartis announced on Sunday its intention to acquire Avidity Biosciences, a company specializing in RNA-based therapies for neuromuscular diseases, for approximately $12 billion in cash. This acquisition, priced at $72 per share, represents a substantial 46% premium over Avidity’s closing share price of $49.15 on Friday.
The strategic move will enhance Novartis’s pipeline with three late-stage programs, including treatments for Duchenne muscular dystrophy, myotonic dystrophy type 1, and facioscapulohumeral muscular dystrophy. Novartis anticipates potential product launches stemming from this acquisition as early as 2030, signaling a significant commitment to advancing its capabilities in RNA therapeutics.
This acquisition underscores the growing importance of RNA-based therapies in the pharmaceutical landscape, particularly for rare and complex diseases, and positions Novartis to leverage Avidity’s innovative approaches in a competitive market.
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