Oct 26 (Reuters) - Swiss drugmaker Novartis on

Sunday said it agreed to acquire U.S. biotech firm Avidity

Biosciences ( RNA ) for about $12 billion in cash.

Avidity stockholders will receive $72 per share in cash,

representing a premium of 46% to the company's closing on

Friday.

Under the terms of agreement, Avidity will separate its

early-stage precision cardiology programs into a new company

called Spinco.

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.

(Reporting by Angela Christy in Bengaluru)