Shares of Reata Pharmaceuticals plunged more than 33 percent after the company announced a potential delay in plans to seek approval of omaveloxolone, an investigational treatment of Friedreich’s ataxia (FA).

Biogen successfully fended off a patent challenge from generic company Mylan over the multiple sclerosis (MS) drug Tecfidera.

Reata Pharmaceuticals Inc.’s Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich’s ataxia (FA) met the primary endpoint of change in the modified Friedreich’s Ataxia Rating Scale relative to placebo after 48 weeks of treatment.

UCB will acquire U.S.-based Ra Pharmaceuticals in a $2.1 billion deal that will enable the Belgian drugmaker to offer new treatment options for several rare diseases in neurology and immunology.

German drugmaker Bayer is paying up to $600 million for full control of cell therapy developer BlueRock Therapeutics.

EMD Serono, a unit of Merck KGaA, announced that the U.S. FDA approved Mavenclad (cladribine) for adults with relapsing-remitting multiple sclerosis and active secondary progressive disease.

Top 10 Pipelines To Watch: 2019 Annual Report

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The return on R&D investment for leading biopharmaceutical manufacturers fell to a nine-year low while the U.S. FDA approved a record-breaking amount of novel medicines during 2018.

Durham, North Carolina-based Ribometrix closed on a Series A financing worth $30 million, led by M Ventures.

According to Reuters UK, Japan’s Takeda Pharmaceutical made an official bid to acquire London’s Shire for about $60 billion, which was rejected.

BridgeBio Pharma, which was founded in 2015, recently closed on a $135 million series C round that was co-led by Viking Global Investors and KKR. They were joined by Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital, and Janus Funds.