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Biogen Buys Time For Leqembi Ramp-Up With Reata Acquisition

 
• By Joseph Haas

By agreeing to pay $7.3bn for Reata and its Friedrich’s ataxia drug Skyclarys, “recalibrating” Biogen can be more patient with launches of Alzheimer’s drug Leqembi and ALS therapy Qalsody.

Businessman draws a statistical trend line
Biogen places large wager on Reata's ability to spur sustainable growth

Only days after announcing a plan to reduce expenses by $1bn, Biogen, Inc. reeled in the third-largest biopharma M&A deal of 2023, agreeing to pay $7.3bn on 28 July for Reata Pharmaceuticals, Inc. and its recently approved Friedrich’s ataxia (FA) drug Skyclarys (omaveloxolone). Biogen CEO Christopher Viehbacher, focused on returning the company to sustained growth, said it became “increasingly clear that Biogen would be the natural owner for Skyclarys,” a projected blockbuster and the only approved drug for FA.

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