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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