Novartis agreed to acquire Avidity Biosciences in a roughly $12 billion cash deal that brings three late‑stage antibody‑oligonucleotide conjugate (AOC) programs into its neuroscience portfolio. The buyer gains del‑zota, del‑desiran and del‑brax—programs targeting Duchenne, myotonic dystrophy type 1 and facioscapulohumeral muscular dystrophy—and Avidity’s TfR1‑targeting delivery platform. Novartis said the acquisition accelerates its strategy to deliver RNA therapeutics to muscle and cardiac tissue and expects regulatory submissions from acquired programs within the next 12–18 months. Investors reacted strongly to the premium, lifting Avidity’s shares; Novartis plans a SpinCo for certain early cardiology assets. The deal also triggers near‑term integration and CMC work to support the planned biologics license application (BLA) filings, making manufacturing and regulatory execution the next operational priorities.