Category: Acquisition
Company: Reata Pharmaceuticals
Product/Asset: SKYCLARYS
Issue: Acquisition
Latest trigger event for Opp: PR July 28, 2023
Target Companies: M&A integration consultants; Valuation consultants; Industry executives; neuro and rare disease execs
Details:
Biogen announced on July 28, 2023 that it will be acquiring Reata Pharmaceuticals for approximately $7.3 billion. Reata is focused on developing therapeutics for neurologic diseases. In February 2023, Reata had the first and only FDA approved treatment for Friedreich’s ataxia, SKYCLARYS. Commercial launch is currently underway for SKYCLARYS and ongoing review with European regulatory. Christopher Viehbacher, Biogen’s President and Chief Executive Officer said that “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.”
About Reata Pharmaceuticals
Company Type: Public Company
Market Cap (7/28/23): $5,488,000,000
Location: Plano, Texas
Cash (Q1 2023): $321,000,000
Burn rate/quarter: $56,880,000
Technology Focus: Small Molecule
Latest stage asset: Approved
Indications: Friedreich’s Ataxia
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Article History:
Originally posted 7/31/23 (RB)
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