Swiss pharmaceutical major Novartis AG is reportedly close to finalizing a deal to acquire biotechnology company Avidity Biosciences Inc. According to a Bloomberg report, citing informed sources, Novartis is engaged in discussions to purchase Avidity for a price exceeding $70 per share. The announcement of this potential acquisition could occur as early as October 26 (US time), provided there are no unforeseen complications. Spokespeople for both Avidity and Novartis did not immediately comment on these reports, as the news emerged outside of standard business hours.

This potential acquisition aligns with Novartis's recent strategy of engaging in significant deals. A Financial Times report indicated that the Swiss pharma giant has been in "active" acquisition talks with Avidity since August 2025. This year has already seen Novartis make substantial moves in the biopharmaceutical sector. In September, the company acquired New York-based Tourmaline Bio, an agreement that valued the biopharmaceutical firm at $1.4 billion on a fully diluted basis, as reported by Reuters. Earlier in 2025, Novartis also secured an agreement to buy Regulus Therapeutics in a deal potentially worth up to $1.7 billion. This acquisition granted Novartis access to an experimental drug specifically designed to treat a life-threatening kidney disease, further expanding its therapeutic portfolio.

In addition to its acquisition activities, Novartis has also achieved a significant regulatory milestone. In October, the United States Food and Drug Administration (US FDA) granted approval for a new Novartis treatment for a hives-like skin condition, as detailed in a separate Bloomberg report. The US FDA cleared Remibrutinib, which will be marketed under the brand name Rhapsido, for use in adults suffering from chronic spontaneous urticaria. While not typically life-threatening, this condition can severely impact patients' quality of life, affecting their sleep, work performance, and mental well-being. Victor Bulto, president of Novartis’s US unit, highlighted the drug's potential to receive approval for various other conditions, suggesting it could become a "blockbuster" product. Novartis estimates that Remibrutinib could provide relief to approximately 1.7 million individuals living with chronic spontaneous urticaria in the US alone.