Datapoint: Biogen Inks Deal for Reata Pharmaceuticals

Biogen Inc. during a July 28 conference call said it has inked a $7.3 billion deal to acquire Reata Pharmaceuticals Inc., a drugmaker that focuses on rare diseases. Reata’s lead asset is Skyclarys, the first-ever treatment for Friedreich’s ataxia, a rare, degenerative, inherited disease of the nervous system that impacts patients’ ability to walk. The drug — a possible blockbuster — gained FDA approval in February. While full coverage information is uncertain due to its relative newness, MMIT Analytics estimates about 24% of insured lives have covered or better access to Skyclarys under the pharmacy benefit so far. Evaluate Pharma projects the drug will bring in $23 million in global sales for 2023, growing to $576 million by 2028.

SOURCE: MMIT Analytics, as of 7/31/23, and Evaluate Pharma

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