Shaken by a government advisory panel’s poor review of its experimental treatment for Alzheimer’s disease, Biogen announced a team-up Friday with Sage Therapeutics. Biogen has committed up to $3.1 billion to the development and marketing of two drugs that Sage is developing for depression and neurological disorders.
If successful, the drugs would shore up Biogen’s position in treating the nervous system—a market where its prospects are clouded by the weak clinical trials of its Alzheimer’s drug aducanumab and by the arrival…