Sage to be Acquired for $795 Million

In more good news for local M&As, after rejecting an offer from Biogen in January, Sage Therapeutics has agreed to be acquired by Supernus Pharmaceuticals of Rockville, MD for $561 million, payable at closing, plus one non-tradable contingent value right (CVR) worth up to $234 million for a total of up to $795 million. The CVR is payable upon achieving certain net sales and commercial milestones. The transaction provides Supernus with Sage’s Zurzuvae, the only FDA-approved oral medication for postpartum depression, and is expected to close in Q3.

In good alignment with Sage, Supernus is focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. Its portfolio includes approved treatments for attention-deficit hyperactivity disorder (ADHD), Parkinson’s disease, epilepsy, and migraine. Currently in development is a broad range of novel CNS product candidates including new potential treatments for epilepsy and depression.

Founded in 2010, Sage developed the only two FDA-approved treatments indicated for postpartum depression and is advancing a pipeline to target unmet needs in brain health. (Source: Sage Therapeutics Website, 16 June & 27 January, 2025)