Biogen makes its move, announcing a $7.3B deal for Reata

Bio­gen and its new CEO are fi­nal­ly wad­ing in­to 2023’s M&A wave with a $7.3 bil­lion deal for Rea­ta Phar­ma­ceu­ti­cals, which just se­cured FDA ap­proval for a rare ge­net­ic dis­ease.

The biotech com­pa­ny will pay $172.50 per share in cash for Rea­ta, which re­cent­ly launched Skyclarys for Friedre­ich’s atax­ia in the US and is un­der­go­ing a Eu­ro­pean reg­u­la­to­ry re­view. Stifel an­a­lyst Paul Mat­teis said the deal’s price is “hefty, but not if Skyclarys can meet $1B in rev­enues.”

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