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Novartis is in talks to buy U.S. biotech firm Avidity Biosciences for more than $70 a share, Bloomberg News reports
CNBC· 2025-10-27 00:26
Signage for Novartis AG at a building in the company's headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023.Swiss pharmaceutical giant Novartis is nearing a deal to buy biotechnology company Avidity Biosciences for more than $70 a share, Bloomberg News reported, citing a person familiar with the matter.A deal could be announced as early as Sunday, the report said.Novartis and Avidity didn't immediately respond to CNBC's requests for comment.Avidity specializes in developing an innovative class ...