Source: Pharmaceutical Technology
Biogen intends to give $172.50 per share in cash to Reata, accompanied by the issuance of term debt. Credit: PictureDesignSwiss/Shutterstock.com. Biogen agreed to give $172.50 per share in cash to Reata, accompanied by term debt issuance. The transaction will close in the fourth quarter of 2023. Source: Pharmaceutical Technology
ReportsPharmaceuticals Industry Deals and Trends in November 2021 - Partnerships, Licensing, Investments... GlobalData
Source: Pharmaceutical Technology
ReportsPharmaceuticals Industry Mergers and Acquisitions Deals by Top Themes in Q1 2022 - Thematic Research GlobalData
View allCompanies IntelligenceBiogen IncReata Pharmaceuticals IncReata UK LtdView all
This therapeutic is Reata’s first FDA-approved Friedreich’s ataxia treatment. Its commercial launch is underway in the US while its European regulatory review is ongoing. Biogen president and CEO Christopher Viehbacher stated: “With extensive expertise in rare disease product development and global commercialisation, as demonstrated by SPINRAZA and the recent launch of QALSODY, we believe Biogen has the foundation in place to accelerate the delivery of SKYCLARYS to patients around the world. “This is a unique opportunity for Biogen to bolster our near-term growth trajectory, and SKYCLARYS is an excellent complement to our global portfolio of treatments for neuromuscular and rare disease.” Reata’s acquisition will be slightly dilutive to the non-GAAP [generally accepted accounting principles] diluted earnings per share of Biogen in 2023, including associated transaction costs. It will be neutral in 2024 and significantly accretive from 2025.