Novartis AG is reportedly considering a takeover offer for Avidity Biosciences, a biotechnology company focused on rare diseases, according to multiple reports including the Financial Times. The potential acquisition aims to strengthen Novartis's drug pipeline, particularly in the area of muscular dystrophy treatments such as Del-zota. This move comes as Novartis faces patent expirations on some of its top-selling drugs and seeks to offset potential revenue losses through strategic deals. Shares of Avidity Biosciences surged by approximately 17-18% following the news. Additionally, Novo Nordisk has also made a takeover approach for Avidity Biosciences, indicating interest from multiple major pharmaceutical companies. The acquisition discussions are in early stages and remain uncertain. Market analysts have responded by raising price targets for Avidity Biosciences, with Wells Fargo increasing its target to $75 from $70 and Barclays raising theirs to $62 from $59, both maintaining overweight ratings.