Novartis Buys Avidity: A $12 Billion Biotech Bet

Novartis is set to acquire Avidity Biosciences for $12 billion in cash, offering stockholders a 46% premium. This move allows Novartis to tap into Avidity's precision medicine technologies, while Avidity spins off its early-stage cardiology programs into a new company. The acquisition highlights the pharma industry's push for innovation and could spur further biotech deals. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.