Novartis announced an agreement to acquire Avidity Biosciences for roughly $12 billion, adding three late-stage antibody‑oligonucleotide conjugate (AOC) programs aimed at neuromuscular diseases. The deal transfers registrational‑stage assets for Duchenne muscular dystrophy, myotonic dystrophy type 1 and facioscapulohumeral muscular dystrophy to Novartis and includes plans to hive off earlier cardiovascular programs into a SpinCo. Novartis said the acquisition accelerates its RNA and neuroscience strategy by bringing an AOC delivery platform that targets muscle and heart tissue. Avidity’s pipeline is positioned to file Biologics License Applications in the coming 12 months, per company disclosures. Novartis expects the transaction to close in the first half of 2026 and to support near‑term regulatory submissions for the acquired programs.