Deals

Novartis Agrees to Buy Avidity in $12 Billion Biotech Deal

WATCH: Novartis agreed to buy biotechnology company Avidity in a deal valued at $12 billion. Sam Fazeli of Bloomberg Intelligence explains.Source: Bloomberg

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By Michelle F Davis and Deirdre Hipwell

October 26, 2025 at 5:12 PM UTC

Updated on

October 27, 2025 at 8:14 AM UTC

Novartis AG agreed to buy Avidity Biosciences Inc. in a $12 billion deal that’s the Swiss drugmaker’s biggest acquisition in more than a decade and adds several potential blockbuster treatments as generic competition looms for its current top-sellers.

Novartis will pay $72 a share in cash for the biotechnology company, representing a premium of 46% to Avidity’s closing price Friday, the company said Sunday. Bloomberg News previously reported a deal was close.