Novartis acquiring Avidity Biosciences for $12 billion

PARIS

Swiss pharmaceutical giant Novartis has agreed to buy Avidity Biosciences, valuing the U.S. biopharmaceutical company at $12 billion.

"The proposed acquisition is expected to create an industry-leading pipeline, building on the Novartis expertise in spinal muscular atrophy and commercialization capabilities in genetic neuromuscular diseases," Novartis said in a statement.

The move will bring Avidity's late-stage neuroscience program into the Novartis fold and give it access to a "differentiated RNA-targeting delivery platform," it said.

The deal is expected to be closed in the first half of 2026, after San Diego-based Avidity's early-stage precision cardiology program has been separated off into a new company.

Until the deal is closed, each company will continue operating independently.

Avidity's programs aim to address root genetic causes, restore muscle function, and potentially slow the progression of the disease.

Switzerland is home to a number of pharmaceutical giants including Roche and Novartis.

Switzerland's pharmaceutical industry is the main driver of economic growth and alone generates seven to eight percent of the country's gross domestic product.

Pharmaceutical companies are facing massive pressure from U.S. President Donald Trump's administration to move production to the United States.

Novartis, based in Basel in northern Switzerland, announced in April that it planned to invest $23 billion in the United States over five years.

Roche likewise announced plans invest $50 billion in the United States over the next five years, in a bid to head off the threat of tariffs.