Getty Images Listen below or on the go via Apple Podcasts and Spotify Avidity (RNA) stock surges on $12B Novartis (NVS) deal. (00:29) Bessent unveils Fed chair finalists before year-end decision. (01:21) HSBC faces $1.1B loss from Madoff fraud ruling, stock falls. (02:03) This is an abridged transcript. We begin with an update to a story we told you about on Wall Street Brunch with Kim Khan. Avidity Biosciences (NASDAQ:RNA) is up 42% in premarket action after Novartis (NYSE:NVS) agreed to buy the bio ...

Getty Images Listen below or on the go via Apple Podcasts and Spotify Avidity (RNA) stock surges on $12B Novartis (NVS) deal. (00:29) Bessent unveils Fed chair finalists before year-end decision. (01:21) HSBC faces $1.1B loss from Madoff fraud ruling, stock falls. (02:03) This is an abridged transcript. We begin with an update to a story we told you about on Wall Street Brunch with Kim Khan. Avidity Biosciences (NASDAQ:RNA) is up 42% in premarket action after Novartis (NYSE:NVS) agreed to buy the bio ...

Core Viewpoint - Novartis plans to acquire U.S. biotech Avidity Biosciences for approximately $12 billion, which represents the company's largest acquisition under current leadership [1] Company Summary - The acquisition of Avidity Biosciences is a strategic move for Novartis, aiming to enhance its portfolio in the biotech sector [1] - Following the announcement, Novartis shares experienced a decline of 1% on Monday [1] Industry Summary - The acquisition highlights ongoing consolidation trends within the biotech industry, as larger pharmaceutical companies seek to expand their capabilities and product offerings through strategic purchases [1]

U.S. stock futures rose on Monday following Friday’s positive moves. Futures of major benchmark indices were higher.Investors are eyeing multiple developments this week, which include the earnings report of five firms among the Magnificent 7 constituents. Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), and Meta Platforms Inc. (NASDAQ:META) will announce results on Wednesday, whereas Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc. (NASDAQ:AMZN) will report on Thursday.The Federal Rese ...

U.S. stock futures rose on Monday following Friday’s positive moves. Futures of major benchmark indices were higher.Investors are eyeing multiple developments this week, which include the earnings report of five firms among the Magnificent 7 constituents. Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), and Meta Platforms Inc. (NASDAQ:META) will announce results on Wednesday, whereas Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc. (NASDAQ:AMZN) will report on Thursday.The Federal Rese ...

Core Viewpoint - Novartis announced its acquisition of Avidity Biosciences for approximately $12 billion, marking a significant move in the biotech sector aimed at enhancing its pipeline in neuromuscular diseases [3][4]. Group 1: Acquisition Details - The acquisition involves Avidity shareholders receiving $72 per share, representing a 46% premium over the last closing price of $49.15 [3]. - Avidity will spin off its early precision cardiology projects into a new company named Spinco, which is expected to become publicly listed [3][4]. - The deal is anticipated to close in the first half of 2026, with significant commercial opportunities projected by 2030 [5]. Group 2: Strategic Rationale - Novartis is proactively pursuing multiple transactions to address patent expirations of key drugs, including Entresto, Xolair, and Cosentyx [4]. - The acquisition will provide Novartis with advanced RNA development projects targeting diseases such as Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD) [4][6]. - The expected compound annual growth rate (CAGR) for Novartis's sales from 2024 to 2029 is projected to increase from +5% to +6% due to this acquisition [5]. Group 3: Company Profiles - Avidity Biosciences, based in San Diego, is a clinical-stage company focused on developing treatments for various muscle diseases [6]. - Avidity's lead drug, Del-zota, is in early to mid-stage development for treating DMD, alongside other candidates for severe muscle diseases [6].

Novartis has agreed to buy Avidity Biosciences in a $12 billion biotech deal, the biggest acquisition for the Swiss drug maker in more than a decade. Joining us now is Bloomberg Intelligence is senior pharmaceutical analyst Sam Zell. Sam, thanks for joining us on the show.What does this deal tell us about potential M&A activity across the pharma space. Well, good morning to you. So this is by my count, we keep a tally of this.Of course, Bloomberg. This will be the 21st deal for 2025, where large pharma comp ...

Core Insights - Novartis has agreed to acquire Avidity Biosciences for $12 billion, marking its largest acquisition in over a decade [1] - This acquisition is part of a broader trend where large pharmaceutical companies are increasingly purchasing biotech firms, with this being the 21st such deal in 2025 [2][4] - The deal is strategically important for Novartis as it seeks to maintain growth momentum beyond 2029, particularly after a significant drug's patent expiration [2][3] Industry Trends - The recent surge in mergers and acquisitions (M&A) activity in the biotech sector indicates a growing confidence among large pharma companies, driven by a more stable regulatory environment [5][6] - The focus on rare disease assets in this deal suggests that these drugs face less scrutiny regarding pricing and regulation compared to standard drugs, potentially mitigating risks associated with pricing pressures [6][7] - The increase in M&A activity is also linked to a reprieve from certain tariff threats, which has provided companies with the confidence to pursue acquisitions [5][6]

Shares of Avidity Biosciences Inc (NASDAQ:RNA) rose sharply in pre-market trading after the company agreed to be acquired by Novartis AG (NYSE:NVS).Holders of Avidity common stock will receive $72.00 per share in cash at closing, representing a premium of around 46% over Avidity’s closing share price on Oct. 24.Avidity Biosciences shares surged 42.1% to $69.85 in the pre-market trading session.Here are some other stocks moving in pre-market trading.GainersClick Holdings Limited (NASDAQ:CLIK) gained 173% to ...

Group 1 - Novartis has been actively pursuing acquisition deals over the past year to strengthen its pipeline in response to patent expirations of key drugs like heart failure therapy, Kymriah [1][2] - On October 26, Novartis announced a proposed cash acquisition of Avidity Biosciences for approximately $12 billion to enhance its treatment portfolio for rare muscle diseases [1] - Avidity's latest market capitalization is close to $6.7 billion, and Novartis has completed nearly $20 billion in potential acquisition deals over the past year [1] Group 2 - Recent acquisitions by Novartis include: - $1.1 billion for gene therapy company Kate Therapeutics in November last year [2] - $3.1 billion for Anthos Therapeutics to enhance its cardiovascular treatment line in February [2] - $1.7 billion for Regulus Therapeutics for a kidney disease therapy in April [2] - Up to $1 billion agreement with Matchpoint Therapeutics for oral drugs targeting inflammatory diseases in July [2] - $1.4 billion acquisition of Tourmaline Bio for a cardiovascular treatment drug in September [2] - These acquisitions are aimed at addressing the patent expiration crisis of key drugs, with Novartis's stock price increasing approximately 34% this year, leading to a market capitalization exceeding $275 billion [2]