Novartis to Purchase Avidity Biosciences for $12 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Source: WSJ
Acquisition Announcement: Novartis is acquiring Avidity Biosciences for $12 billion to enhance its focus on neuromuscular disorder treatments.
Company Background: Avidity Biosciences is a biotech firm based in San Diego.
Exclusion of Subsidiary: The acquisition does not include Avidity's subsidiary that is working on early-stage heart disease treatments.
Strategic Focus: This deal aligns with Novartis's long-term strategy to strengthen its portfolio in the neuromuscular disorder space.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
