Biogen Marginally Outbid Another Big Pharma For $7.3bn Reata Acquisition

Unnamed Firm Was Likely Sanofi

17 Aug 2023

• By Ayisha Sharma

The US firm’s multi-billion dollar buyout of the rare disease biotech Reata was not so straightforward according to a recent security filing that detailed a back-and-forth bidding process between Biogen and a rival company that initiated first contact, believed to be Sanofi.

two fists in red box gloves about to hit each other — Biogen And Sanofi Fought It Out To Acquire Reata • Source: Shutterstock

Key Takeaways:

Biogen outbid the unnamed rival company by just $0.50 per share according to Reata’s filing.
The rival is believed to be Sanofi, which has a big rare disease franchise and has openly spoken of its search for deals.
Sales of Reata’s Skyclarys for Friedrich’s ataxia should help boost Biogen’s floundering sales.

Biogen, Inc. was part of a close bidding war against another big pharma firm, believed to be Sanofi, prior to its $7

Reata’s 11 August filing revealed that members of the business development group at a “large-cap pharmaceutical company” – referred to only as ‘party A’ in the document but believed to be Sanofi – contacted its CEO Warren Huff in May to arrange an

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