Biogen: acquires Reata Pharmaceuticals
(CercleFinance.com) - Biogen announces that it has entered into a definitive agreement with Reata Pharmaceuticals to acquire this biopharmaceutical company for $172.
50 per share in cash, reflecting an enterprise value of about $7.3bn.
Specializing in therapies that regulate cellular metabolism and inflammation in severe neurological diseases, in particular Reata has Skyclarys, the only FDA-approved treatment for Friedreich's ataxia in the US.
Biogen says that this acquisition represents a significant step forward in Biogen's sustainable growth strategy, with the addition of a highly complementary innovative product in an area where unmet medical needs are high.
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