Why Biogen Agreed to Acquire Reata for $7.3 Billion

The video discusses the strategies of biotech companies, focusing on Riotta's FDA-approved drug for Friedrich's ataxia and Biogen's expansion plans. Biogen aims to counteract revenue loss from expiring patents by acquiring companies with promising drugs. The new CEO, Chris Vie Bakker, known for his deal-making skills, is leading Biogen's efforts to grow in rare diseases, immunology, and psychiatry.

Why is the acquisition of the drug considered a strategic move for Biogen?

What are the areas of expansion that the new CEO wants to focus on?