Pharma BD Deal Intelligence
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).