Sage rises as partner Biogen posts strong Q1 sales of postpartum depression pill

Sage Therapeutics

24/04/2024 14:25

** Shares of Sage Therapeutics  SAGE.O  up 13.1% at $14.65
premarket 
    ** Partner Biogen  BIIB.O  reports $12 mln in Q1 revenue
from post-partum depression pill Zurzuvae
    ** At least three analysts say that sales of Zurzuvae came
in ahead of their expectations 
    ** Jefferies analyst Michael Yee says that Zurzuvae's sales
beat suggest that the drug's launch could potentially be better
than expected
    ** The pill was approved to treat postpartum depression
(PPD) in adults in August last year
    ** BIIB also posts Q1 profit above estimates, records $19
mln in global sales of its Alzheimer's drug Leqembi for which it
partners with Japanese drugmaker Eisai  4523.T  
    ** As of last close, BIIB shares were down 25.4% and SAGE
was down 40% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))