BASEL, Switzerland – February 27, 2026
Novartis AG has successfully completed its acquisition of Avidity Biosciences, Inc., strengthening its late-stage neuroscience pipeline and advancing its xRNA therapeutic strategy. The transaction, valued at approximately USD 12 billion on a fully diluted basis, integrates Avidity’s differentiated muscle-directed Antibody Oligonucleotide Conjugates (AOC™) platform and three late-stage neuromuscular programs into Novartis’ expanding RNA medicines portfolio.
Strategic Expansion of Neuromuscular Pipeline
The acquisition adds Avidity’s AOC™ platform, designed to deliver RNA therapeutics directly to muscle tissue, enhancing targeted treatment potential for genetic neuromuscular diseases.According to Novartis leadership, combining Avidity’s breakthrough science with Novartis’ global development and commercialization capabilities could unlock multi-billion-dollar opportunities, with potential product launches anticipated before 2030.
Through the merger of its subsidiary Ajax Acquisition Sub, Inc. with Avidity, Novartis acquired all outstanding shares at USD 72.00 per share in cash, resulting in an enterprise value of approximately USD 11 billion.Following completion, Avidity became an indirect wholly owned subsidiary of Novartis, and its shares ceased trading on the Nasdaq Stock Market.
The transaction aligns with Novartis’ strategy to enhance its innovative medicines portfolio, particularly within neuroscience and rare genetic disorders. By incorporating Avidity’s three late-stage clinical programs, Novartis significantly strengthens its development pipeline in high-need neuromuscular conditions, positioning the company for sustained growth through the 2025–2030 period.
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Advancing the xRNA Therapeutics Strategy
Avidity’s AOC™ platform represents a next-generation approach in RNA therapeutics, enabling targeted delivery of oligonucleotide-based treatments to muscle cells. This muscle-directed technology addresses key delivery challenges historically associated with RNA medicines, potentially improving therapeutic precision and efficacy in diseases such as muscular dystrophies and other inherited neuromuscular disorders.
Novartis has outlined expectations for continued mid- to long-term growth, supported by projected net sales compound annual growth of 5–6% (constant currency) through 2030.The integration of Avidity’s programs into Novartis’ development engine reinforces the company’s commitment to advancing first-in-disease RNA-based therapies and expanding innovation in complex genetic conditions.
Growth Outlook and Innovation Commitment
The acquisition reflects broader consolidation trends within the biopharmaceutical industry, where large pharmaceutical companies are investing heavily in advanced biologics and nucleic acid platforms to diversify pipelines and mitigate patent cliffs. By adding late-stage programs with near-term commercial potential, Novartis enhances both revenue visibility and long-term strategic positioning in neuromuscular therapeutics.
Novartis emphasized that while forward-looking projections remain subject to regulatory approvals and clinical outcomes, the company remains confident in achieving anticipated synergies and pipeline milestones. With medicines currently reaching more than 300 million people worldwide, Novartis continues to focus on reimagining medicine through science-driven innovation.
The successful completion of the Avidity acquisition marks a significant milestone in Novartis’ evolution as a leader in RNA therapeutics, neuroscience innovation, and genetic medicine development, reinforcing its long-term commitment to addressing serious and underserved diseases.
Source: Novartis press release
