Reutersยท2025-10-26 15:09Core Viewpoint - Swiss drugmaker Novartis AG is nearing an acquisition of U.S. biotech Avidity Biosciences for over $70 per share, indicating a strategic move to enhance its portfolio in the biotech sector [1] Company Summary - Novartis AG is actively pursuing the acquisition of Avidity Biosciences, which reflects its ongoing strategy to expand its presence in the biotechnology market [1] - The acquisition price is reported to be over $70 per share, suggesting a significant valuation for Avidity Biosciences [1] Industry Summary - The potential acquisition highlights the increasing trend of consolidation within the biotech industry, as larger pharmaceutical companies seek to acquire innovative biotech firms to bolster their product pipelines [1]