# Northridge-based MiniMed Group Inc. began trading on March 6 as a split-off from Medtronic.

*biotech · news · 2026-04-19 · Los Angeles Times*

## Key points

- MiniMed Group split from Medtronic, began trading as MMED, and authorized a $100M stock repurchase.
- Novartis acquired San Diego-based Avidity Biosciences for $12 billion after successful clinical trial results.
- AnaptysBio will spin off its biopharma portfolio into a new public company, First Tracks Biotherapeutics, by 2026.
- Amgen plans over $600 million investment in a new science and innovation center at Thousand Oaks headquarters.

**Companies:** Amgen, Novartis AG, MiniMed Group Inc., Avidity Biosciences Inc., AnaptysBio Inc.
**Countries:** United States

[Read the full story on Los Angeles Times](https://www.latimes.com/b2b/health-life-science/story/2026-04-19/biotech-industry-growth-southern-california)

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