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Biopharma Acquisition: Biogen Acquiring Reata Pharmaceuticals



Category: Acquisition

Company: Reata Pharmaceuticals

Product/Asset: SKYCLARYS

Issue: Acquisition

Latest trigger event for Opp: PR July 28, 2023

Target Companies: M&A integration consultants; Valuation consultants; Industry executives; neuro and rare disease execs


Details:

Biogen announced on July 28, 2023 that it will be acquiring Reata Pharmaceuticals for approximately $7.3 billion. Reata is focused on developing therapeutics for neurologic diseases. In February 2023, Reata had the first and only FDA approved treatment for Friedreich’s ataxia, SKYCLARYS. Commercial launch is currently underway for SKYCLARYS and ongoing review with European regulatory. Christopher Viehbacher, Biogen’s President and Chief Executive Officer said that “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.”


About Reata Pharmaceuticals

Company Type: Public Company

Market Cap (7/28/23): $5,488,000,000

Location: Plano, Texas

Cash (Q1 2023): $321,000,000

Burn rate/quarter: $56,880,000

Technology Focus: Small Molecule

Latest stage asset: Approved

Indications: Friedreich’s Ataxia

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Article History:

Originally posted 7/31/23 (RB)


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