The company’s logo at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, on Nov. 28, 2019. Arnd Wiegmann/Reuters
Swiss pharmaceutical giant Novartis AG said on Oct. 26 it will acquire Avidity Biosciences Inc. for about $12 billion in cash, expanding its late-stage pipeline of RNA-based drugs for rare neuromuscular diseases.
Avidity stockholders will receive $72 per share in cash, representing a 46 percent premium to the company’s closing on Oct. 24.
