Novartis to acquire Avidity in $12B bet on RNA drugs for neuromuscular disease

This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Novartis is making one of the largest dealmaking gambles in its history, agreeing on Sunday to spend billions of dollars to acquire biotechnology company Avidity Biosciences, which is working on RNA medicines for rare neuromuscular conditions. Per deal terms, Novartis is paying $72 per share to acquire Avidity. The offer values Avidity at $12 billion and repre ...