On October 26, 2025, Novartis announced an agreement to acquire Avidity Biosciences, a San Diego-based biotechnology firm, for approximately $12 billion.[1][3] The acquisition will strengthen Novartis' neuroscience portfolio, particularly the development of RNA therapeutics targeting muscle tissue in genetic neuromuscular diseases.[1][3] Avidity Biosciences is developing the AOC (antibody oligonucleotide conjugates) platform, which combines antibody targeting with the precision of oligonucleotides to deliver RNA to muscle cells.[1][3] The deal envisions spinning off Avidity's early-stage precision cardiology programs into a new SpinCo entity.[1][3] The transaction is expected to close in the first half of 2026, subject to regulatory and shareholder approvals.[1][3][4] The acquisition will increase Novartis' 2024–2029 expected compound annual growth rate (CAGR) of sales from 5% to 6%.[2][3] The deal was approved by the boards of directors of both companies, and Novartis will pay $72 in cash for Avidity's share.[2][3] Both companies will remain separate until the termination.[3]