July 28 Reuters Biogen agreed to buy rare disease drugmaker Reata Pharmaceuticals for nearly 6.5 billion, the first large acquisition under new CEO Christopher Viehbacher as he seeks to return the drugmaker to growth.

Viehbacher was hired in November to put Biogen back on a growth path after a series of missteps around the controversial Alzheimer39;s drug Aduhelm hurt the company, which was already grappling with intense competition to its topselling drugs.

Through the deal, Biogen said it will gain Texasbased Reata39;s recently approved drug Skyclarys to treat a rare genetic disorder that causes progressive damage to the nervous system.

We believe Biogen has the foundation in place to accelerate the delivery of Skyclarys to patients around the world, Viehbacher said in a statement.

It already makes Spinraza, a treatment for the rare musclewasting disorder called spinal muscular atrophy, and a treatment for a rare type of amyotrophic lateral sclerosis.

Biogen is banking on the launch of a new Alzheimer39;s drug Leqembi, sold with partner Eisai, to drive growth, but has said costs related to the launch could offset modest sales this year.

The drugmaker, therefore, has been seeking to complement its portfolio with drugs that boost nearterm growth with deals in areas such as rare diseases and immunology.

Reata39;s Skyclarys, sold at an annual list price of 370,000, is the first approved treatment for Friedreich39;s ataxia, which affects about one in every 50,000…