Biogen to Acquire Reata for $6.5B, Expanding Rare Disease Portfolio

Biogen will acquire Reata Pharmaceuticals for $6.5 billion in cash to expand its rare disease treatments.
The acquisition provides Biogen with Reata's newly approved drug Skyclarys for treating a genetic disorder.
Analysts view the deal positively given Biogen's presence in neurological diseases and the low cost.
The transaction requires regulatory approval and is expected to close by end of 2022.
Biogen aims to cut costs and build its pipeline of potential new drugs through the acquisition.