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		</div><p>Biogen is spending more than seven billion US dollars (£5.4 billion) to buy Reata Pharmaceuticals and bolster its rare disease treatments.</p>
<p>The Alzheimer’s treatment developer said on Friday it will pay 172.50 dollars (£134.08) in cash for each share of Reata in a deal it expects to close by the end of this year.</p>
<p>Texas-based Reata focuses on developing treatments that regulate cellular metabolism and deal with inflammation in serious neurologic diseases.</p>
<p>It makes Skyclarys, a Food and Drug Administration-approved treatment for the neurologic disorder Freidreich’s ataxia.</p>
<p>Biogen puts an enterprise value of 7.3 billion dollars (£5.7 billion) on the acquisition.</p>
<p>It said it would slightly dilute adjusted earnings per share this year and be roughly neutral next year before becoming “significantly accretive” in 2025.</p>
<p>Regulators and Reata shareholders need to approve the deal.</p>
<p>Biogen makes the multiple sclerosis treatments Techfidera and Tysabri as well as the spinal muscular atrophy treatment Spinraza.</p>
<p>It is also partnering with Japanese drugmaker Eisai to sell the new Alzheimer’s treatment Leqembi.</p>
<p>Chief executive Christopher Viehbacher said in a statement the company’s experience developing and selling rare disease treatments will help expand the market for Skyclarys, which is being reviewed by European regulators.</p>
<p>Friedreich’s ataxia is caused by a gene defect inherited from both parents, according to Johns Hopkins Medicine.</p>
<p>It can lead to vision and hearing loss and trouble walking, among other symptoms.</p>
<p>Shares of Reata Pharmaceuticals jumped 13% to 123 dollars (£95.60) in pre-market trading on Friday.</p>
<p>Biogen’s stock slipped 1%.</p>
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