Swiss pharmaceutical giant Novartis AG is reportedly close to finalizing a deal to acquire US-based biotechnology firm Avidity Biosciences Inc., according to a Bloomberg report citing sources. The acquisition price is said to be over $70 per share, with the possibility of an announcement as soon as October 26, 2025 (US time), provided no last-minute issues arise. Representatives from both Novartis and Avidity did not immediately comment on the reports.
The discussions between Novartis and Avidity have reportedly been ongoing since August 2025, as noted by the Financial Times. If completed, the deal would mark another addition to Novartis’s recent series of acquisitions in the biotechnology and pharmaceutical space.
Earlier in 2025, Novartis acquired Regulus Therapeutics for up to $1.7 billion, gaining access to an experimental treatment for a severe kidney condition (Reuters). In September 2025, the company also completed the purchase of Tourmaline Bio, valuing the New York-based biopharmaceutical company at $1.4 billion (Reuters).
In addition to its acquisition activity, Novartis recently received US FDA approval for a new treatment for chronic hives. The drug, Remibrutinib (to be marketed as Rhapsido), is indicated for adults with chronic spontaneous urticaria, a condition that, while not usually life-threatening, can disrupt sleep, work, and mental health (Bloomberg). Novartis estimates that approximately 1.7 million patients in the US could benefit from this therapy.
Sources: Bloomberg, Reuters, Financial Times
