Reported about 9 hours ago
Biogen intends to purchase the remaining shares of Sage Therapeutics for $7.22 each in a deal valued at $442 million, following a 34% increase in Sage's stock price after the announcement. Biogen currently holds a 10.2% stake in Sage, which has been struggling with drug development setbacks, particularly after its trials for dalzanemdor failed. The company is now focusing on the postpartum depression drug Zurzuvae, developed with Biogen.
Source: YAHOO