US Stock Market Move | Novartis AG Sponsored ADR acquires Avidity Biosciences for $12 billion, causing RNA.US stock to soar over 42%.

On Monday, Avidity Biosciences (RNA.US) soared over 42% at the opening, reaching a historical high of $70.13. In terms of news, Swiss pharmaceutical company Novartis AG Sponsored ADR Pharmaceuticals (NVS.US) has agreed to acquire American biotechnology company Avidity Biosciences, with an estimated valuation of $12 billion. Novartis AG Sponsored ADR Pharmaceuticals stated that they will acquire Avidity at a cash price of $72 per share, a 46% premium over Avidity's closing price on Friday. Novartis AG Sponsored ADR also mentioned that the equity value of this transaction is $12 billion, but after the completion of the deal, Avidity is expected to have approximately $1 billion in cash, bringing its enterprise value to around $11 billion. This makes it the largest acquisition deal for Novartis AG Sponsored ADR Pharmaceuticals in nearly a decade. The entire transaction is expected to be completed in the first half of 2026, contingent on the completion of the spin-off matters.