TRENTON, N.J. (AP) — The U.S. Food and Drug Administration has approved the first drug specifically developed for severe depression after childbirth.

The agency on Tuesday approved Sage Therapeutics' Zulresso, an IV drug given over 2 ½ days.

Sage said Zulresso will cost $34,000 without insurance, plus costs for staying in a hospital or infusion center. Whether the treatment gets covered by insurance is determined by each insurance company, which also sets the out-of-pocket costs, depending on the plan.

In a company-funded study of new mothers with moderate or severe postpartum depression, half...