Skip to main content
C
CorpDigest
Search

Novartis AG

PharmaceuticalsFounded 1996
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Novartis Acquisitions

6

Major Deals Covered

$37.1B

Disclosed Deal Value

What are Novartis's biggest acquisitions?

Novartis's largest disclosed acquisition here is Avidity Biosciences for $12B in 2026. This page covers 6 major deals from 2006 to 2026, each with its price where disclosed and the reason behind it.

Major deals covered
6
Largest deal
Avidity Biosciences ($12B)
First deal
2006
Most recent
2026
CompanyYearPricePurpose
Avidity Biosciences2026$12.0BNovartis bought Avidity for about $12 billion to acquire antibody-oligonucleotide conjugates for neuromuscular diseases: del-desiran (DM1), delpacibart zotadirsen (Duchenne) and delpacibart braxlosiran (FSHD).
MorphoSys AG2024$2.9BNovartis paid about EUR 2.7 billion ($2.9 billion) for MorphoSys mainly to obtain pelabresib, an investigational BET inhibitor for myelofibrosis.
Chinook Therapeutics2023$3.5BNovartis paid $3.2 billion upfront plus up to $300 million in milestones for Chinook, gaining atrasentan and zigakibart for IgA nephropathy and other rare kidney diseases.
The Medicines Company2020$9.7BNovartis acquired The Medicines Company for $9.7 billion primarily to gain control of the cholesterol-lowering drug inclisiran, a small interfering RNA (siRNA) therapy.
Advanced Accelerator Applications2018$3.9BNovartis acquired Advanced Accelerator Applications for $3.9 billion to establish a foothold in the emerging field of radioligand therapy for cancer.
Chiron Corporation2006$5.1BNovartis paid about $5.1 billion for the roughly 56% of Chiron it did not already own, gaining vaccines, blood-testing and biopharma businesses.
What companies has Novartis bought?
Major acquisitions by Novartis documented here include Avidity Biosciences (2026), The Medicines Company (2020), Chiron Corporation (2006), Advanced Accelerator Applications (2018) and Chinook Therapeutics (2023).
What is Novartis's most recent acquisition?
The most recent Novartis acquisition documented here is Avidity Biosciences, in 2026, for $12B.

Avidity Biosciences

2026

$12.0B

Why

Novartis bought Avidity for about $12 billion to acquire antibody-oligonucleotide conjugates for neuromuscular diseases: del-desiran (DM1), delpacibart zotadirsen (Duchenne) and delpacibart braxlosiran (FSHD).

Impact

It was larger than the .7 billion Medicines Company deal of 2020 and the centerpiece of its xRNA neuroscience strategy.

Outcome

Del-desiran missed its Phase 3 HARBOR primary endpoint in September 2026; Novartis has filed for accelerated approval of delpacibart zotadirsen in Duchenne and plans FDA talks for the FSHD program.

Source →

MorphoSys AG

2024

$2.9B

Why

Novartis paid about EUR 2.7 billion ($2.9 billion) for MorphoSys mainly to obtain pelabresib, an investigational BET inhibitor for myelofibrosis.

Impact

The deal added a late-stage hematology candidate to the oncology pipeline.

Outcome

Pelabresib's regulatory path has been slower than hoped at signing; its commercial value is not yet established.

Source →

Chinook Therapeutics

2023

$3.5B

Why

Novartis paid $3.2 billion upfront plus up to $300 million in milestones for Chinook, gaining atrasentan and zigakibart for IgA nephropathy and other rare kidney diseases.

Impact

The deal deepened Novartis's renal franchise alongside Fabhalta (iptacopan).

Outcome

Atrasentan received US accelerated approval in 2025 under the brand name Vanrafia for IgA nephropathy.

Source →

The Medicines Company

2020

$9.7B

Why

Novartis acquired The Medicines Company for $9.7 billion primarily to gain control of the cholesterol-lowering drug inclisiran, a small interfering RNA (siRNA) therapy.

Impact

It gave Novartis Leqvio (inclisiran), a twice-yearly siRNA injection that lowers LDL cholesterol.

Outcome

Leqvio became one of Novartis's priority growth brands, with sales up 69% at constant currencies in Q1 2026.

Source →

Advanced Accelerator Applications

2018

$3.9B

Why

Novartis acquired Advanced Accelerator Applications for $3.9 billion to establish a foothold in the emerging field of radioligand therapy for cancer.

Impact

This acquisition provided the foundation for Novartis's radioligand franchise, including the prostate cancer drug Pluvicto, which has become a major growth driver.

Outcome

AAA brought Lutathera and the radioligand manufacturing base that, together with the 2018 Endocyte deal that supplied Pluvicto, made Novartis the leading radioligand therapy company.

Source →

Chiron Corporation

2006

$5.1B

Why

Novartis paid about $5.1 billion for the roughly 56% of Chiron it did not already own, gaining vaccines, blood-testing and biopharma businesses.

Impact

Chiron formed the core of the Novartis Vaccines division.

Outcome

Novartis later exited vaccines, selling its influenza vaccines to CSL and most other vaccines to GSK in the 2015 portfolio swap.

Source →

Novartis AG's Growth & Acquisition Strategy

Novartis concentrates on four therapeutic areas and on the US, its largest market. It pairs internal research with bolt-on acquisitions of late-stage or platform biotechs: Chinook (2023, kidney disease), MorphoSys (2024, myelofibrosis), Kate Therapeutics (2024, gene therapy capsids) and Avidity Biosciences (closed February 27, 2026, about $12 billion, neuromuscular RNA medicines). It is also expanding US manufacturing, including radioligand production capacity.

How Novartis AG Makes Money

Novartis earns almost all of its revenue by selling patented prescription medicines to wholesalers, hospitals, pharmacies and national health systems in about 140 countries. FY2025 net sales of $54.5 billion came from four core areas (cardiovascular-renal-metabolic, immunology, neuroscience and oncology) plus established brands. The model depends on reinvesting roughly a fifth of sales into R&D and acquisitions so that new launches replace drugs losing exclusivity. Since the 2023 Sandoz spin-off, Novartis has no generics business; it also earns smaller "other revenues" (about $2.1 billion in 2025) from royalties and milestones.

Novartis Acquisitions FAQ

What was Novartis's acquisition of gene therapy pioneer AveXis for $8.7 billion in 2018?

In April 2018, Novartis acquired clinical-stage gene therapy biotech AveXis for $8.7 billion in cash, securing the breakthrough adeno-associated virus (AAV9) gene therapy Zolgensma (onasemnogene abeparvovec), which delivers a functional cure for fatal Spinal Muscular Atrophy (SMA) in infants with a single one-time infusion.

How did Novartis acquire Endocyte and Advanced Accelerator Applications (AAA) to build its Radioligand dominance?

Novartis built its world-leading Radioligand platform through two strategic acquisitions: French radiopharma pioneer Advanced Accelerator Applications (AAA) for $3.9 billion in 2018 (bringing Lutathera) and US-based Endocyte for $2.1 billion in 2018 (bringing the blockbuster prostate cancer therapy Pluvicto).

What was the $9.7 billion acquisition of The Medicines Company in 2020?

In January 2020, Novartis completed the $9.7 billion all-cash acquisition of The Medicines Company, securing global rights to the twice-yearly siRNA cholesterol-lowering therapy Leqvio (inclisiran) to anchor its cardiovascular franchise.

What was the ~$3.05 billion (€2.7 billion) acquisition of MorphoSys AG in 2024?

In February 2024, Novartis agreed to acquire German biopharmaceutical company MorphoSys AG for €2.7 billion ($2.9B USD), securing pelabresib, an investigational oral BET inhibitor developed to treat myelofibrosis, bolstering Novartis's core oncology hematology pipeline.

How did Novartis acquire Chinook Therapeutics for $3.2 billion in 2023?

In August 2023, Novartis completed the $3.2 billion acquisition of Seattle-based Chinook Therapeutics, adding two late-stage targeted medicines (atrasentan and zigakibart) for the treatment of rare, progressive kidney diseases including IgA nephropathy.

What was the acquisition of RNA-targeting startup DTx Pharma in 2023?

In July 2023, Novartis acquired San Diego-based DTx Pharma for up to $1.0 billion, securing its proprietary Fatty Acid Motifs (FALCON) platform to deliver therapeutic siRNA across the blood-brain barrier and treat neuromuscular diseases like Charcot-Marie-Tooth.

How did Novartis acquire Kate Therapeutics to advance next-generation gene therapies in 2024?

In 2024, Novartis acquired Kate Therapeutics for up to $1.1 billion, integrating its engineered AAV capsids designed for tissue-specific gene delivery with reduced liver toxicity to treat genetic heart and skeletal muscle diseases.

Why did Novartis spin off Alcon into a standalone public company in 2019?

In April 2019, Novartis executed a 100% tax-neutral spinoff of ophthalmic surgical and contact lens giant Alcon Inc. (NYSE: ALC) at a $28 billion market valuation, allowing Alcon to thrive independently while streamlining Novartis into a pure-play prescription drug maker.

Related Companies

Novo Nordisk A/SEli Lilly and CompanyBausch Health Companies Inc.

Compare Novartis AG With Competitors

Novartis AG vs Novo Nordisk A/SNovartis AG vs Eli Lilly and CompanyNovartis AG vs Bausch Health Companies Inc.

Related M&A Histories

Compare corporate acquisition records, deal values, and strategic targets

Competitor

Novo Nordisk A/S

View M&A Histories
Competitor

Eli Lilly and Company

View M&A Histories
Competitor

Bausch Health Companies Inc.

View M&A Histories
Competitor

Pfizer

View M&A Histories
Competitor

Roche

View M&A Histories
Competitor

Johnson And Johnson

View M&A Histories

Explore Novartis

Core profile pages, founders and related research hubs for this company.

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.