Supernus Pharmaceuticals has announced a definitive agreement to acquire Sage Therapeutics for approximately $795 million, a strategic move designed to significantly bolster Supernus's presence in the CNS market and diversify its product portfolio. This acquisition centers on ZURZUVAE (zuranolone), the groundbreaking first and only FDA-approved oral medicine for postpartum depression, which will become Supernus's fourth key growth product. The deal, expected to close in the third quarter of 2025, comprises an upfront cash payment of $8.50 per share, plus a non-tradable Contingent Value Right (CVR) worth up to an additional $3.50 per share, contingent on ZURZUVAE achieving specific net sales and commercial milestones. This transaction is anticipated to generate substantial annual cost synergies of up to $200 million and is projected to be significantly accretive to Supernus's earnings by 2026, leveraging its established commercial infrastructure to expand ZURZUVAE's reach and provide a much-needed treatment option for women with postpartum depression.