Biogen Inc is to add another marketed product to its portfolio of treatments for neurological diseases with the acquisition of Reata Pharmaceuticals Inc in a deal valued at $7.3 billion. Announced on 28 July, the deal involves a cash payment to Reata’s shareholders of $172.50 per share. The transaction is expected to close in the fourth quarter and will be slightly dilutive to Biogen’s earnings per share in 2023, roughly neutral in 2024, and accretive beginning in 2025. Biogen expects to finance the acquisition with cash on hand, supplemented by the issuance of debt.
