Sage Therapeutics Files Lawsuit Against Biogen Following $469 Million Acquisition Offer

Acquisition Offer:
Biogen offered to acquire Sage Therapeutics for approximately $469 million, valuing each share at $7.2225.

Legal Action:
Sage Therapeutics filed a lawsuit against Biogen in Delaware court, seeking an injunction to enforce a standstill agreement, just days after receiving the acquisition offer45.

Background Partnership:
Biogen and Sage Therapeutics have a partnership that began in 2020 to jointly develop and commercialize Zurzuvae (zuranolone) for multiple psychiatric disorders, including postpartum depression5.

Ownership:
Biogen owns slightly more than 10% of Sage Therapeutics5.

Market Reaction:
Shares of Sage Therapeutics surged after the acquisition offer was disclosed2.

Sources:

2. https://www.bloomberg.com/news/articles/2025-01-13/sage-therapeutics-jumps-on-biogen-s-469-million-takeover-offer

4. https://endpts.com/sage-sues-biogen-days-after-469m-buyout-offer/

5. https://www.darwinresearch.com/jj-gsk-and-eli-lilly-announce-acquisitions-biogen-attempts-to-buy-sage-therapeutics/