The week in pharma: action, reaction and insight – week to October 31

By Barbara Obstoj-Cardwell

M&A news last week featured Swiss pharma giant Novartis announcing it has agreed to acquire rare disease drug developer Avidity Biosciences for $12 billion, and Denmark’s Novo Nordisk surprised Wall Street, disclosing an unsolicited takeover bid for US obesity drug developer Metsera, which is already the subject of an agreed bid from Pfizer. Research news of note saw US drugmaker Intellia suffer a setback with its nexiguran ziclumeran, pausing a Phase III trial following identification of liver toxicity. Also, Akebia Therapeutics announced it will discontinue plans to expand use of its anemia drug Vafseo following discussions with the US Food and Drug Administration (FDA).

Avidity to be acquired by Novartis for ~$12 billion