Biogen proposes to buy remaining stake in Sage in $442 million deal

Sage Therapeutics

10/01/2025 23:33

Jan 10 (Reuters) - 
    Drugmaker Biogen  BIIB.O  will buy all outstanding shares of
Sage Therapeutics  SAGE.O  that it does not already own for
$7.22 apiece, a filing showed on Friday, sending the latter's
stock up 34% in extended trade.
As per the filing, Biogen has a 10.2% stake in Sage
Therapeutics. The offer price, representing a 30% premium to the
stock's close on Friday, values Sage's equity at $441.7 million,
according to Reuters calculations.
    Biogen has been navigating a slow pick-up in sales for its
Alzheimer's drug Leqembi in the United States after concerns
over cost, efficacy and side effects.
Sage, whose shares fell 74.9% last year, abandoned the
development of its drug dalzanemdor after multiple trial
failures. The company said in November that it will focus on its
postpartum depression drug, Zurzuvae, which it developed in
partnership with Biogen.
    In July, Sage also scrapped the development of another
neurological disorder drug it was developing with Biogen.

(Reporting by Puyaan Singh in Bengaluru; Editing by Alan Barona)
((mailto:Puyaan.Singh@thomsonreuters.com))