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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Biogen Inc.    BIIB

BIOGEN INC.

(BIIB)
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Biogen : Sage Therapeutics Reach Global Collaboration for Potential Depression and Movement Disorders Therapies

11/27/2020 | 08:08am EST

By Maria Armental

Biogen Inc. and Sage Therapeutics Inc. agreed to jointly develop and commercialize zuranolone (SAGE-217) for major depressive disorder, postpartum depression and other psychiatric disorders and SAGE-324 for essential tremor and other neurological disorders, the companies said Friday.

Under the terms of the agreement, Sage Therapeutics would receive $1.53 billion in cash, including an upfront payment of $875 million, in addition to up to some $1.6 billion in potential milestone payments, profit sharing and royalties.

The two companies would develop and commercialize zuranolone and SAGE-324 in the U.S. jointly and Biogen would receive exclusive license to develop and commercialize zuranolone and SAGE-324 outside of the U.S., excluding rights to zuranolone in Japan, Taiwan and South Korea, the companies said.

"With the recent and pending data outputs for zuranolone and SAGE-324, the timing is right for a collaboration between two like-minded companies committed to patients and driven by a passion for neuroscience and brain health," Sage Therapeutics Chief Operating Officer Mike Cloonan said in a statement.

The transaction is expected to close by the end of January.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

11-27-20 0807ET

Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. -0.73% 273.84 Delayed Quote.11.84%
SAGE THERAPEUTICS, INC. -2.00% 89.55 Delayed Quote.3.51%
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Financials (USD)
Sales 2020 13 390 M - -
Net income 2020 4 274 M - -
Net Debt 2020 2 814 M - -
P/E ratio 2020 10,3x
Yield 2020 -
Capitalization 42 139 M 42 139 M -
EV / Sales 2020 3,36x
EV / Sales 2021 3,73x
Nbr of Employees 7 400
Free-Float 86,1%
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Technical analysis trends BIOGEN INC.
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 33
Average target price 292,32 $
Last Close Price 273,84 $
Spread / Highest target 64,3%
Spread / Average Target 6,75%
Spread / Lowest Target -36,1%
EPS Revisions
Managers and Directors
NameTitle
Michel Vounatsos Chief Executive Officer & Director
Stelios B. Papadopoulos Chairman
Michael R. McDonnell Chief Financial Officer & Executive Vice President
Alfred W. Sandrock Chief Medical Officer & EVP-Research & Development
Mark Hernon Chief Information Officer & Senior Vice President
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