Biogen cuts almost one-third of Reata’s staff following $7B buyout

Bio­gen made a big M&A splash in Ju­ly with its $7.3 bil­lion buy­out of Rea­ta Phar­ma­ceu­ti­cals, which had just se­cured FDA ap­proval for a rare ge­net­ic dis­ease treat­ment. But now, as is the case with so many buy­outs, the Cam­bridge, MA-based biotech is cut­ting Rea­ta’s staff num­bers by al­most one-third.

Ac­cord­ing to a Texas no­tice post­ed this week, Rea­ta said it’s lay­ing off 113 staffers in No­vem­ber at a Plano, Texas, site, where Rea­ta has its head­quar­ters. As of Dec. 31, 2022, the com­pa­ny had 321 full-time em­ploy­ees.

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