William Blair analysts Myles Minter, Sarah Schram and Tiffany Marchell view the acquisition, although not inexpensive, as fitting the company's previously described acquisition goals of de-risked, value-added and accretive assets. 

The analysts say the asset and other pipeline Nrf2 activators fit well within the company's rare neurology franchise.

Biogen had previously indicated its capacity to allocate approximately $10 billion for corporate acquisitions. If the deal is successfully finalized in the fourth quarter, it would consume the majority of these funds, raising the question of whether there is any capacity left for another transaction.

From the perspective of potential issues with the Federal Trade Commission (FTC), there is currently no direct pipeline overlap in Friedreich's Ataxia (FA), but Biogen is a significant player in the neuro-rare disease market. 

BIIB Price Action: Biogen shares are up 1.02% at $265.48 on the last check Friday.

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