Biogen to Acquire Reata Pharmaceuticals for ~$7.3B
Shots:
- 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
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
