Biogen Inc. said Friday it has agreed to acquire Reata Pharmaceuticals Inc. for $7.3 billion in cash. Reata “has made significant advancements developing...
Biogen Inc.
said Friday it has agreed to acquire Reata Pharmaceuticals Inc. for $7.3 billion in cash. Reata “has made significant advancements developing therapeutics that regulate cellular metabolism and inflammation in serious neurologic diseases,” Biogen said in a statement. The company’s FDA-approved Skyclarys is the first and only approved treatment for Friedreich’s ataxia in the U.S., with a commercial launch underway and a European review ongoing. Biogen will pay $172.50 per Reata share. The stock closed Thursday at $108.55.
said Friday it has agreed to acquire Reata Pharmaceuticals Inc. for $7.3 billion in cash. Reata “has made significant advancements developing therapeutics that regulate cellular metabolism and inflammation in serious neurologic diseases,” Biogen said in a statement. The company’s FDA-approved Skyclarys is the first and only approved treatment for Friedreich’s ataxia in the U.S., with a commercial launch underway and a European review ongoing. Biogen will pay $172.50 per Reata share. The stock closed Thursday at $108.55.
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