neutral-positive
Recently
Novartis shares slip while Avidity soars after US$12 billion biotech deal
No Image
Novartis to acquire Avidity Biosciences for ~US$12 billion; acquirer’s shares dip while target’s soar.
Swiss pharmaceutical giant Novartis announced it will acquire US biotech firm Avidity Biosciences in a deal valued around US$12 billion, the largest take-over under CEO Vas Narasimhan. Following the announcement, Novartis shares declined ~1% while Avidity’s stock surged. Market watchers view the deal as strategic for Novartis’s RNA-based therapies pipeline, even as price tag and integration risks weigh on the acquirer. The transaction underscores high valuations in biotech innovation and continuing consolidation trends in the sector.