Biogen Inc. (NasdaqGS:BIIB) narrowly beat out Sanofi (ENXTPA:SAN) to clinch its $7.3 billion acquisition of Reata Pharmaceuticals, Inc. (NasdaqGM:RETA), according to people familiar with the matter. An entity identified as ?Party A? in a regulatory filing Friday lost the competition for Reata by 50 cents per share after several rounds of bidding. Party A was Sanofi, the people said, asking to not be identified because the matter isn?t public.

Representatives for Reata, Sanofi and Biogen declined to comment.