Biogen to bolster rare disease treatments with €6.3 billion Reata acquisition

Biogen is spending more than seven billion US dollars (£5.4 billion) to buy Reata Pharmaceuticals and bolster its rare disease treatments (Steven Senne/AP)

Biogen is spending more than $7 billion (€6.3 billion) to buy Reata Pharmaceuticals and bolster its rare disease treatments.

The Alzheimer’s treatment developer said on Friday it will pay $172.50 (€156.03) in cash for each share of Reata in a deal it expects to close by the end of this year.