Sage shrinks workforce by 40% in light of major depression drug rejection
Sage Therapeutics is laying off 40% of its workforce this quarter in the wake of the FDA’s rejection of the biotech’s major depressive disorder drug earlier this month.
The company’s pill was approved for treating postpartum depression, to be launched next quarter as Zurzuvae, but Sage and its partner Biogen were depending on the MDD label for a broader market rollout. The rejection forced an immediate rethink at Cambridge, MA-based Sage, which on Thursday said two of its early employees were departing: chief scientific officer Al Robichaud and development chief Jim Doherty. SVP of medical affairs Mark Pollack is also leaving. The biotech employed 689 people as of Feb. 8.
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