Shots:
- Supernus to acquire Sage Therapeutics, strengthening its neuropsychiatry product portfolio with Zurzuvae (zuranolone), & a novel CNS discovery platform
- As per the deal, Sage’s shareholders will receive $8.5/share in an all-cash transaction totaling ~$561M, along with one non-tradeable CVR of $3.50/share (~$234M) tied to Zurzuvae milestones: $1 each for US sales allocable to Supernus reaching $250M (by 2027), $300M (by 2028), $375M (by 2030), & $0.50 for first commercial sale in Japan for MDD by Jun 30, 2026; closing expected in Q3’25
- Additionally, Supernus will report collaboration revenue equal to 50% of Biogen’s total net US revenue from Zurzuvae, as per their collaboration agreement
Ref: Sage Therapeutics | Image: Sage Therapeutics| Press Release
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