Biogen Marginally Outbid Another Big Pharma For $7.3bn Reata Acquisition

Unnamed Firm Was Likely Sanofi

 
• By Ayisha Sharma
  
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The US firm’s multi-billion dollar buyout of the rare disease biotech Reata was not so straightforward according to a recent security filing that detailed a back-and-forth bidding process between Biogen and a rival company that initiated first contact, believed to be Sanofi.  

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Biogen And Sanofi Fought It Out To Acquire Reata • Source: Shutterstock

Key Takeaways:

  • Biogen outbid the unnamed rival company by just $0.50 per share according to Reata’s filing.

Biogen, Inc. was part of a close bidding war against another big pharma firm, believed to be Sanofi, prior to its $7.3bn acquisition of rare disease specialist Reata Pharmaceuticals, Inc. last month, according to a recent SEC filing published by the biotech.

Reata’s 11 August filing revealed that members of the business development group at a “large-cap pharmaceutical company” – referred to...

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