Novartis is Planning a $12 Billion Acquisition of Avidity Biosciences to Strengthen RNA Therapeutics
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The Swiss pharmaceutical company Novartis (i) has reached a definitive agreement to acquire the U.S. biotech company Avidity Biosciences, based in San Diego. The transaction, valued at approximately $12 billion in cash (on a fully diluted basis), aims to fundamentally strengthen Novartis's neuroscience business and reposition the company in the RNA therapeutics sector. Financial terms and premium Novartis is offering Avidity shareholders a price of $72.00 per share in cash. This price represents a significant premium of 46% over the last trading...
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