Supernus Pharmaceuticals is acquiring Sage Therapeutics for up to $795 million, securing rights to Sage's postpartum depression drug Zurzuvae. The acquisition follows Sage's decline from a $9 billion valuation and recent workforce reductions. Supernus aims to expand its CNS portfolio with Zurzuvae as a key growth driver alongside its existing products. Analysts describe the deal as a pragmatic outcome reflecting Sage’s challenges but acknowledge the significant market opportunity in postpartum depression treatment. The transaction is anticipated to close in Q3 2025.