Reported Sunday, Novartis Agrees To Acquire Avidity Biosciences For $12B To Strengthen Late-Stage Neuroscience Pipeline And Expand RNA Therapeutics Portfolio
Benzinga Newsdesk 1 year ago
M&ANews
Transaction strengthens neuroscience franchise for Novartis with three late-stage programs that address genetic neuromuscular diseasesAdvances the Novartis xRNA strategy by adding a scientifically robust,
- Transaction strengthens neuroscience franchise for Novartis with three late-stage programs that address genetic neuromuscular diseases
- Advances the Novartis xRNA strategy by adding a scientifically robust, muscle-directed, Antibody Oligonucleotide Conjugates (AOCs™) platform and first-in-disease pipeline
- Expected to unlock multi-billion-dollar opportunities with planned product launches before 2030
- Raises expected 2024-2029 sales CAGR for Novartis from +5% to +6%, and bolsters mid-single digit long-term growth
- As part of the agreement, Avidity will separate its early-stage precision cardiology programs into a new company ("SpinCo") prior to closing
- Consideration totals USD 12bn in cash; closing expected in H1 2026, subject to completion of the separation of SpinCo from Avidity and other customary closing conditions