17:46 - 27.10.2025

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October 27, Fineko/abc.az. Novartis AG (Switzerland) has announced that it is buying American biotech company Avidity Biosciences Inc. for $12 bn.

ABC.AZ informs that Novartis will pay $72 per share of Avidity, which is 46% higher than the value of the securities at the close of the market on October 24.

Avidity's portfolio includes three drugs for the treatment of various forms of muscular dystrophy that are currently in clinical trials. These drugs may be approved for use in the U.S. as early as 2027.

Under the terms of the deal, Novartis will not buy the operations of the American company developing drugs for the treatment of cardiovascular diseases. Avidity will separate them into an independent company.

The deal was supported by the boards of directors of both companies, but it also requires the approval of Avidity shareholders and regulatory authorities. The parties plan to close it in the 1st half of 2026.

Avidity shares have increased in price by 69% since the beginning of this year, reports of interest in it from Novartis appeared back in August.