Oct 26 (Reuters) - Novartis AG is close to

acquiring U.S. biotech Avidity Biosciences ( RNA ) for more than

$70 per share, Bloomberg News reported, citing a person familiar

with the matter who said an announcement could come as early as

Sunday.

Novartis and Avidity did not immediately respond to requests

for comment about the report.

Novartis has been actively striking deals in 2025 as it

looks to bolster its drug pipeline and drive future growth, and

the Financial Times reported in August that the Swiss drugmaker

had approached Avidity Biosciences ( RNA ) for a potential takeover

offer.

Novartis said last month it had acquired Tourmaline Bio ( TRML )

, valuing the New York-based biopharmaceutical company

at $1.4 billion on a fully diluted basis.

Earlier this year, Novartis agreed to buy Regulus

Therapeutics for up to $1.7 billion, giving the pharma giant

access to an experimental drug to treat a life-threatening

kidney disease.