Novartis CEO Justifies $12 Billion Avidity Deal Amid Data Wait
Photo by Kaja Sariwating on Unsplash
Novartis acquired Avidity Biosciences for $12 billion to secure a muscle disorder treatment despite lacking late-stage data, as CEO Vas Narasimhan viewed waiting for the data's release as potentially more expensive. This is Novartis's largest acquisition under Narasimhan, reflecting a strategy to strengthen its drug pipeline via strategic deals, and analysts speculate this could foreshadow more biotech mergers and acquisitions.
Key takeaways
- Novartis defended its $12 billion acquisition of Avidity Biosciences, a U
- firm developing a treatment for muscle disorders, despite the absence of late-stage data
- CEO Vas Narasimhan characterized the acquisition, Novartis's largest under his leadership, as a calculated risk
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