Biogen CEO Confirms Intent to Acquire Biotechs, Including $469 Million Offer for Sage Therapeutics

Jan 12, 2025, 04:01 PM

Biogen Inc. is actively seeking to expand its portfolio through acquisitions in the biotech sector, as confirmed by CEO Chris Viehbacher at the JPMorgan Healthcare Conference in San Francisco. Viehbacher expressed Biogen's intent to engage in deals, though he did not specify the size of these potential acquisitions. This comes after Biogen's recent $469 million offer to acquire Sage Therapeutics, its partner in marketing Zurzuvae, a pill for postpartum depression. The offer, which is less than Sage's current cash reserves, is unlikely to be accepted due to Sage's recent clinical failures and stock price decline. Biogen's strategy is to target biotechs with drugs in mid- and late-stage clinical development to augment its growth.