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Sage Spurns Biogen, Turns Attention To Strategic Review

Proposed Deal’s Value Seen As Too Low

 
• By Mandy Jackson

Sage’s board of directors initiated a search for strategic alternatives, which could include a sale of the company, but the board rejected a buyout bid from Biogen, its partner on the PPD drug Zurzuvae.

Sage is reviewing strategic alternatives rather than accepting Biogen's buyout bid (Shutterstock)

Sage Therapeutics, after a year of disappointing readouts from its clinical-stage pipeline, received an acquisition offer earlier in January from its Zurzuvae (zuranolone) partner Biogen and the company’s board of directors issued a response on 27 January, rejecting the bid. The board also initiated a review of strategic alternatives, which could include a sale of Sage or some other transaction, with the aim of generating a more favorable outcome for the company’s shareholders.

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