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Biogen Announces Acquisition of Reata Pharmaceuticals
Total deal expected to be worth approximately $7.3 billion.
Biogen has officially announced a definitive agreement to acquire Reata Pharmaceuticals. As per financial terms, the purchase includes $172.50 per share in cash, equating to an overall value of approximately $7.3 billion. The deal comes amid the FDA’s approval of Skyclarys, Reata’s treatment for patients with Friedreich’s ataxia.
“With extensive expertise in rare disease product development and global commercialization, as demonstrated by Spinraza and the recent launch of Qalsody, we believe Biogen has the foundation in place to accelerate the delivery of Skyclarys to patients around the world,” said Christopher Viehbacher, President, CEO, Biogen. “This is a unique opportunity for Biogen to bolster our near-term growth trajectory, and Skyclarys is an excellent complement to our global portfolio of treatments for neuromuscular and rare disease.”
Reference: Biogen to Acquire Reata Pharmaceuticals. Biogen. July 28, 2023. Accessed July 31, 2023. https://investors.biogen.com/news-releases/news-release-details/biogen-acquire-reata-pharmaceuticals
Transforming Cancer Care: Data, AI, and Patient-Centered Care
July 20th 2023Join us as Mohit Manrao, SVP and head of US oncology at AstraZeneca, shares his patient-centered approach to transforming cancer care, bridging the gap between innovative science and tangible patient outcomes across all populations on a global scale.
Trends in Continuing Medical Education
April 12th 2024Elliott Yoo, Senior Media Strategist at epocrates, takes a closer look at the trends in CME consumption and what the future of medical education will be – from the priorities for physicians as they juggle learning with patient care, to what type of activities resonate most with prescribers.
