(Reuters) -Novartis AG is close to acquiring U.S. biotech Avidity Biosciences for more than $70 per share, Bloomberg News reported, citing a person familiar with the matter who said an announcement could come as early as Sunday. Novartis and Avidity did not immediately respond to requests for comment about the report. Novartis has been actively […]
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Novartis nears deal to acquire Avidity Biosciences for over $70 per share, Bloomberg News reports
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(Reuters) -Novartis AG is close to acquiring U.S. biotech Avidity Biosciences for more than $70 per share, Bloomberg News reported, citing a person familiar with the matter who said an announcement could come as early as Sunday.
Novartis and Avidity did not immediately respond to requests for comment about the report.
Novartis has been actively striking deals in 2025 as it looks to bolster its drug pipeline and drive future growth, and the Financial Times reported in August that the Swiss drugmaker had approached Avidity Biosciences for a potential takeover offer.
Novartis said last month it had acquired Tourmaline Bio, valuing the New York-based biopharmaceutical company at $1.4 billion on a fully diluted basis.
Earlier this year, Novartis agreed to buy Regulus Therapeutics for up to $1.7 billion, giving the pharma giant access to an experimental drug to treat a life-threatening kidney disease.
(Reporting by Dheeraj Kumar in Bengaluru; Editing by Aidan Lewis and Helen Popper)