Pharma BD Deal Intelligence
Biogen acquired Reata Pharmaceuticals for ~$6.5B for rare disease portfolio.
Biogen outbid a rival large-cap pharma to claim Reata for $7.3 billion in a competitive bidding process, reflecting strong strategic interest in the rare…
Skyclarys global revenue was approximately $133 million in Q3 2025, representing 30% year-over-year growth.
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Biogen acquired Reata Pharmaceuticals for $172.50 per share in cash, an enterprise value of approximately $7.3 billion, to gain SKYCLARYS (omaveloxolone) -- the first and only FDA-approved treatment for Friedreich's ataxia (FA). Announced July 28, 2023 and completed September 26, 2023 (~99.65% of votes cast approved the merger), the deal anchored Biogen's rare-disease neurology strategy. Skyclarys revenue ramped from ~$56M (2023, partial year) to ~$371M in 2024, with Q3 2025 global revenue ~$133M (+30% YoY). In June 2025 Biogen initiated the global Phase 3 BRAVE study evaluating omaveloxolone in pediatric FA patients (ages 2-<16).
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Biogen Inc. / Reata Pharmaceuticals (this deal) | 2023 | $7.3B | 73 |
| Biogen Inc. / Human Immunology Biosciences | 2024 | $1.1B | 68 |
| Biogen Inc. / RayThera Inc. | 2026 | $1.0B | 52 |
| Biogen Inc. / Bristol-Myers Squibb Company | 2017 | $710M | 15 |
| Biogen Inc. / Nightstar Therapeutics | 2019 | $800M | — |
| Biogen Inc. / TJ Biopharma Co., Ltd. | 2026 | $850M | — |
| Biogen Inc. / Vanqua Bio, Inc. | 2025 | $1.1B | — |
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More: 2023 deals · Biogen Inc. deals · Neurology deals