Oct 26 (Reuters) - Novartis AG (NOVN.S), opens new tab is close to acquiring U.S. biotech Avidity Biosciences (RNA.O), opens new tab 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. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. 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 for a potential takeover offer. Advertisement · Scroll to continue Report This Ad Novartis said last month it had acquired Tourmaline Bio (TRML.O), opens new tab, 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. Reporting by Dheeraj Kumar in Bengaluru; Editing by Aidan Lewis and Helen Popper