Biogen buys rare disease co Reata for US$7.2bn.
Reata had a drug approved for a rare disease (Friedreichs Ataxia) in Feb 2023.
There are only 4,500 treatable patients in the USA and drug sells for US$370k / yr.
Peak sales in US predicted at US$1.0bn to US$1.5bn by 2030.
Takeover price 5x peak sales in the USA.
Reata (RETA) has ZERO revenue and 2 other drug candidates in early stage P1/2 development.
RETA traded at US$1.2bn market cap BEFORE trial readout earlier this year!!!
A lot of commentary about the huge M&A focus of the major Pharmas for rare diseases and orphan drug designations due to longevity of revenue.
https://investors.biogen.com/news-releases/news-release-details/biogen-acquire-reata-pharmaceuticals
Biogen buys rare disease co Reata for US$7.2bn.Reata had a drug...
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