Novartis Reportedly Plans Avidity Biosciences Takeover

Novartis is reportedly considering an acquisition of Avidity Biosciences, a biotech firm specializing in RNA therapeutics for rare neuromuscular diseases, including Duchenne muscular dystrophy (DMD). The potential deal, still in early discussions with no guarantee of completion, would likely come with a premium over Avidity's current market valuation, which surged by about 26% on takeover rumors. Avidity's lead candidate, delpacibart zotadirsen (del-zota), has shown promising clinical results and recently received FDA Breakthrough Therapy designation, with plans to file for approval by the end of the year. Novartis's interest aligns with its strategic aim to expand its pipeline in rare genetic disorders amid impending patent expirations on some of its best-selling drugs. Acquiring Avidity could accelerate the development and commercialization of its antibody-oligonucleotide conjugate platform across several rare muscle diseases, leveraging Novartis's marketing capabilities. Market analysts view Avidity as an attractive target due to its innovative therapies addressing high unmet medical needs in neuromuscular indications.