Biogen offers to buy out wilting Sage for $442 million
pharmaphorum
JANUARY 13, 2025
Biogen has offered to buy all the shares in Sage Therapeutics that it doesn't already own, taking control of their novel antidepressant Zurzuvae.The $7.22-per-share deal for 89.8% of Sage is a 30% premium on the company's share price on Friday and is estimated by Reuters to be worth around $442 million. Biogen has a longstanding alliance in place with Sage and co-markets Zurzuvae (zuranolone), which is FDA-approved for post-partum depression (PPD).
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