Novartis completes $12B acquisition of Avidity Biosciences, adding AOC platform and late-stage neuromuscular programs to fuel 5-6% sales CAGR through 2030.
Written By: Pharmacally Medical News Desk
Novartis AG has finalized its acquisition of Avidity Biosciences, Inc., integrating the biotech firm’s cutting-edge muscle-targeted therapies into its industry-leading portfolio for neuromuscular diseases.
The deal, valued at approximately $12 billion on a fully diluted basis (with an enterprise value of $11 billion), closed through a merger where Novartis’ subsidiary, Ajax Acquisition Sub, Inc., merged with Avidity. Avidity shareholders received $72.00 per share in cash, and Avidity’s common stock has ceased trading on Nasdaq.
Originally announced on October 26, 2025, the acquisition now positions Avidity as a wholly owned subsidiary of Novartis.
At the core of the transaction is Avidity’s proprietary Antibody Oligonucleotide Conjugates (AOC) platform. This differentiated technology precisely delivers oligonucleotide therapies small RNA molecules that modulate gene expression directly to muscle cells.
By conjugating these oligonucleotides to antibodies that target muscle tissue, AOCs overcome key challenges in treating genetic neuromuscular disorders, such as myotonic dystrophy and Duchenne muscular dystrophy, where muscle-specific delivery has historically been inefficient.
Novartis gains Avidity’s three late-stage programs, which advance its RNA therapeutics strategy and could yield first-in-class treatments for devastating conditions with limited options.
CEO Vas Narasimhan emphasized the synergy: “Avidity’s breakthrough science combined with Novartis capabilities will help reimagine what’s possible for people with devastating genetic neuromuscular diseases.” He highlighted the potential for these therapies to unlock multi-billion-dollar market opportunities, with planned product launches before 2030.
Strategically, the acquisition strengthens Novartis’ late-stage pipeline in neuroscience and neuromuscular areas. It supports the company’s projected 2025-2030 net sales compound annual growth rate (CAGR) of 5-6% at constant currency, while enhancing mid- to long-term growth prospects in high-need areas like RNA-based medicines.
This move aligns with Novartis’ focus on innovative modalities to address unmet needs in rare diseases, building on its existing neuromuscular assets and positioning it to lead in muscle-directed gene therapies.
Reference
Novartis successfully completes acquisition of Avidity Biosciences, strengthening late-stage neuroscience pipeline and advancing xRNA strategy, 27 February 2026, Novartis successfully completes acquisition of Avidity Biosciences, strengthening late-stage neuroscience pipeline and advancing xRNA strategy | Novartis
Novartis agrees to acquire Avidity Biosciences, an innovator in RNA therapeutics, strengthening its late-stage neuroscience pipeline, 26 October 2025, Novartis agrees to acquire Avidity Biosciences, an innovator in RNA therapeutics, strengthening its late-stage neuroscience pipeline | Novartis