Biogen Looks To Bulk Up Rare Disease Portfolio With $7.3 Billion Acquisition

📆 7/28/2023 5:30 PM
📰 Forbes

⏱ Reading Time:
15 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 53%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Biogen will buy Reata Pharmaceuticals and its Friedreich's ataxia drug in a $7.3 billion deal.

Biogen will pay $172.50 per share in cash for Reata, which had a Thursday closing price of $108.

55), andThe company was founded in Plano, Texas in 2002 and focuses on antioxidative and anti-inflammatory drugsBiogen, a Massachusetts-based biotech company with a market cap of nearly $38 billion, has acquired three other companies in the last eight years. The $200 million

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biogen to buy Reata for $6.5 bln to bulk up rare disease portfolioBiogen agreed to buy biotech firm Reata Pharmaceuticals for nearly $6.5 billion to bolster its position in the rare disease drugs market while its older multiple sclerosis drugs face intense competition.
Source: Reuters - 🏆 2. / 97 Read more »