Novartis ‘nears’ deal to acquire Avidity Biosciences for more than $70/share, says report

Group 1: Acquisition of Avidity Biosciences - Novartis AG is reportedly close to acquiring Avidity Biosciences Inc. for over $70 per share, with a potential announcement as early as October 26 [1][2] - The discussions for the acquisition have been ongoing since August 2025, indicating a strategic move by Novartis to expand its portfolio [5] Group 2: Recent Acquisitions - In September 2023, Novartis acquired Tourmaline Bio for $1.4 billion on a fully diluted basis, enhancing its biopharmaceutical capabilities [5] - Earlier in 2025, Novartis agreed to purchase Regulus Therapeutics for up to $1.7 billion, gaining access to an experimental drug for a life-threatening kidney disease [5] Group 3: New Product Approval - Novartis received US FDA approval for Remibrutinib, branded as Rhapsido, for treating chronic spontaneous urticaria, which affects patients' quality of life [4] - The drug has the potential to be approved for multiple conditions and could serve approximately 1.7 million patients in the US suffering from chronic spontaneous urticaria [5]