Novartis to acquire Avidity Biosciences for about $12B

Novartis is set to acquire Avidity Biosciences for approximately $12 billion, a strategic move aimed at bolstering its portfolio as it faces a patent cliff for several key drugs. This acquisition highlights Novartis's proactive approach to securing its future in the pharmaceutical market, especially with blockbuster medications like Entresto, Xolair, and Cosentyx nearing patent expiration. Such deals are crucial for maintaining innovation and competitiveness in the industry.