Supernus Pharmaceuticals to Acquire Sage Therapeutics in $795 Million Deal

Deal News | Jun 16, 2025 | Globenewswire

Supernus Pharmaceuticals to Acquire Sage Therapeutics in $795 Million Deal

Supernus Pharmaceuticals announced a definitive agreement to acquire Sage Therapeutics for approximately $795 million. This strategic acquisition is set to expand Supernus' neuropsychiatry portfolio with the addition of ZURZUVAE, an FDA-approved treatment for postpartum depression. The deal, expected to close in Q3 2025, consists of an upfront cash payment per share and contingent value rights contingent on certain sales milestones. Post-merger, Supernus expects significant financial growth driven by newly acquired product synergies and enhanced revenue diversification. Moelis & Company and Goldman Sachs advisory services facilitated this transaction.

Sectors

  • Pharmaceuticals
  • Biotechnology

Geography

  • United States – Both Supernus Pharmaceuticals and Sage Therapeutics are based in the U.S., and the acquisition is a significant event in the U.S. pharmaceutical sector.

Industry

  • Pharmaceuticals – The acquisition involves Supernus Pharmaceuticals expanding its product line with FDA-approved treatments, indicating relevance to the pharmaceutical industry.
  • Biotechnology – Sage Therapeutics specializes in developing novel drug solutions for brain health and represents significant biotechnology advancements.

Financials

  • 795000000 – Total consideration of the acquisition deal to buy Sage Therapeutics by Supernus Pharmaceuticals.
  • 561000000 – Cash consideration payable at closing under the acquisition terms.
  • 234000000 – Value of the contingent value rights (CVRs) upon achieving specific milestones.
  • 200000000 – Potential annual cost synergies expected as a result of the acquisition.

Participants

NameRoleTypeDescription
Supernus Pharmaceuticals, Inc.Bidding CompanyCompanyA biopharmaceutical company focused on treatments for central nervous system diseases.
Sage Therapeutics, Inc.Target CompanyCompanyA biopharmaceutical company known for developing brain health medicines, including ZURZUVAE.
Biogen, Inc.Collaboration PartnerCompanyCollaborates with Supernus on the commercial aspects of ZURZUVAE.
Moelis & Company LLCFinancial AdvisorCompanyServes as the exclusive financial advisor to Supernus Pharmaceuticals for this transaction.
Goldman Sachs & Co. LLCFinancial AdvisorCompanyActs as exclusive financial advisor to Sage Therapeutics.
Saul Ewing LLPLegal AdvisorCompanyProvides legal counsel to Supernus Pharmaceuticals.
Kirkland & Ellis LLPLegal AdvisorCompanyProvides legal counsel to Sage Therapeutics.
Jack KhattarPresident and CEOPersonPresident and CEO of Supernus Pharmaceuticals.
Barry GreeneCEOPersonChief Executive Officer of Sage Therapeutics.