, Columnist
Biogen Deal for Reata Signals a Turn to Rare Diseases
The acquisition is Chris Viehbacher's first big move as CEO and a sign that the company’s famously controlling board is giving him some leeway.
Making moves.
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Just nine months ago, Biogen Inc.’s board brought in Christopher Viehbacher as CEO to shake things up. Today’s $7.3 billion deal for Reata Pharmaceuticals Inc. shows he’s taking that mandate seriously — and that Biogen’s famously difficult board has given him some control.
It’s a reasonably safe bet that the deal brings Biogen closer to Viehbacher’s ambition of diversifying into rare diseases. Now, he needs to show he can maximize the potential for the company’s growing collection of rare-disease drugs.