CEO Chris Viehbacher outlined progress Biogen made in the third quarter, including full approval for the Eisai-partnered Alzheimer’s drug Leqembi, but recent wins will take time to make up for long-term revenue declines.

Sage and Biogen set a $15,900 list price for Zurzuvae, the 14-day postpartum depression drug approved in the US in August, and expect broad access but formulary discussions will continue into 2024.

Safety signals were the most common cause of discontinued candidates in the breakthrough therapy designation program in 2023.

Zurzuvae will launch this year for postpartum depression, but US FDA rejection of the drug in major depressive disorder spurred Sage to cut R&D programs and jobs as it and partner Biogen evaluate next steps in MDD.