Tag Archive for: Skyclarys

The European Commission on Monday approved Biogen’s Skyclarys (omaveloxolone) for the treatment of the rare genetic disorder Friedrich’s ataxia in patients aged 16 years and above.

The deal is the first large acquisition under new CEO Christopher Viehbacher as he seeks to return the drugmaker to growth.

“The good thing is that, at least now, there is this huge interest in primary mitochondrial diseases, so more companies are working in the space,” says Jan Smeitink, CEO of Khondrion. “It’s also good to notice that different companies have compounds working on different targets.”

Shares of Reata Pharmaceuticals Inc. soared 175% to hit a one-year high in early trading on Wednesday, after the U.S. Food and Drug Administration (FDA) approved its rare disease drug and ended years of uncertainty over its future.