Novartis agreed to acquire Avidity Biosciences in a cash transaction that values the RNA-focused developer at about $12 billion. The deal, announced Sunday, buys Novartis three late-stage programs targeting Duchenne muscular dystrophy, myotonic dystrophy type 1 and facioscapulohumeral muscular dystrophy, positioning Novartis to potentially launch products from the acquisition before 2030. The purchase comes at roughly $72 per share, representing a steep premium to Avidity’s recent close and a strategic bet on conjugated RNA therapeutics for neuromuscular disease. Company statements and press reporting emphasize Novartis’s intent to accelerate clinical development and commercial preparation for the programs. For industry readers: the transaction signals major pharma’s continued willingness to pay high premiums for RNA modality platforms with near-term regulatory catalysts. The deal will affect competitive dynamics in rare neuromuscular diseases and could reshape partnering and buyout valuations for similar RNA-focused biotechs.