In a significant move towards bolstering the rare disease portfolio, Biogen has agreed to acquire Reata Pharmaceuticals for US$172.50 per share in cash, reflecting an enterprise value of approximately US$7.3 B. The acquisition is centered on Reata's recently FDA-approved treatment for Friedreich’s ataxia, Skyclarys® (omaveloxolone). With commercial launch activities ongoing in the US, it is under regulatory review in Europe. The deal represents a strategic move by Biogen to diversify its therapeutic offerings, accelerate its near-term growth trajectory and invest in the promising potential of Reata's drug development pipeline.