(Reuters) -Drugmaker Supernus Pharmaceuticals said on Monday it will acquire Sage Therapeutics, which makes treatments for neurological conditions, in a deal worth up to $795 million.
Shares of Sage Therapeutics were up over 34% in premarket trading.
The deal will give Supernus access to Zurzuvae, the only postpartum depression pill approved in the United States.
Supernus has offered $8.50 in cash for each share held and up to $3.50 per share in cash if certain milestones are achieved.
Without the contingency offer, the deal value comes up to $561 million.
In January, Sage rejected a $469 million bid from Biogen, which co-developed Zurzuvae.
The transaction with Supernus is expected to close in the third quarter of 2025, and is expected to be accretive in 2026.
Sage is a “strong fit with existing Supernus infrastructure,” the companies said, expecting Supernus to benefit from cost savings of up to $200 million on an annual basis.
(Reporting by Bhanvi Satija and Puyaan Singh in Bengaluru; Editing by Shinjini Ganguli)
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