Sage Therapeutics Rejects Biogen’s Acquisition Bid, Initiates Strategic Review

Sage Therapeutics' Board of Directors unanimously rejected Biogen's unsolicited acquisition proposal of $7.22 per share14.

The board concluded that Biogen's offer significantly undervalues Sage and is not in the best interest of shareholders14.

Sage has initiated a process to explore strategic alternatives, including potential strategic transactions, business combinations, or sale12.

Goldman Sachs & Co. LLC has been engaged as a financial advisor to assist with the strategic review process6.

Sage remains focused on establishing ZURZUVAE as the standard of care for women with postpartum depression (PPD)14.

ZURZUVAE is the first oral treatment specifically approved for PPD, addressing a significant unmet medical need in a market affecting approximately 500,000 women annually in the U.S.1.

The PPD market is estimated to be worth about $1.5 billion annually1.

Sage has not set a timetable for the strategic review process and has not made any decisions regarding potential alternatives14.

The announcement of the strategic review and rejection of Biogen's offer could potentially attract interest from other pharmaceutical companies1.

The current biotech M&A environment, characterized by depressed valuations, makes this an opportune time for strategic buyers1.

Sources:

1. https://www.stocktitan.net/news/SAGE/sage-therapeutics-board-of-directors-initiates-review-of-strategic-ra98prwckesm.html

2. https://www.pharmanow.live/latest-news/sage-considers-strategic-alternatives

4. https://investor.sagerx.com/news-releases/news-release-details/sage-therapeutics-board-directors-initiates-review-strategic

6. https://www.businesswire.com/news/home/20250126284706/en/Sage-Therapeutics-Board-of-Directors-Initiates-Review-of-Strategic-Alternatives-and-Rejects-Biogen%E2%80%99s-Unsolicited-Acquisition-Proposal