STAT+: Novartis to buy RNA-focused Avidity in $12 billion deal
LONDON — Novartis said Sunday it would buy Avidity Biosciences, which is developing RNA-based therapies for neuromuscular diseases, for roughly $12 billion in cash.
The deal, at $72 a share, represents a 46% premium on Avidity’s closing share price on Friday of $49.15.
With the purchase, Novartis is picking up three late-stage programs: one treatment for Duchenne muscular dystrophy, another for myotonic dystrophy type 1, and a third for facioscapulohumeral muscular dystrophy. Novartis said it could see product launches from the acquisition before 2030.
Andrew Joseph
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