Biogen to acquire Reata for $172.50/share in cash representing a 60% premium from Reata’s share price with a total enterprise value of ~$7.3B. The transaction is expected to close in Q4’23
The acquisition will add Skyclarys (omaveloxolone), the first and only US FDA-approved treatment for Friedreich’s ataxia (FA) to Biogen’s portfolio of drugs. Additionally, Reata is developing a portfolio of innovative products for a range of neurological diseases
Additionally, the MAA for omaveloxolone is under EMA’s review. Omaveloxolone also received ODD from EC for the treatment of FA
Ref: Globenewswire | Image: Biogen
Related News:- Reata Pharmaceuticals’ Skyclarys (omaveloxolone) Receives the US FDA’s Approval for the Treatment of Friedreich’s Ataxia
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