Johnson & Johnson announced Monday its agreement to acquire biopharmaceutical company Intra-Cellular Therapies Inc. for approximately $14.6 billion, expanding its portfolio of treatments for neuropsychiatric and neurological disorders.
The deal, valued at $132 per share in cash, marks a significant addition to Johnson & Johnson’s innovative medicine business. Intra-Cellular Therapies’ stock surged over 34% to $127.58 following the announcement and will be delisted from the Nasdaq Global Select Market once the transaction is complete.
“This unique opportunity to add Intra-Cellular Therapies to our innovative medicine business demonstrates our commitment to transforming care and advancing research in some of today’s most devastating neuropsychiatric and neurodegenerative disorders,” said Johnson & Johnson Chair and CEO Joaquin Duato.
The acquisition includes Intra-Cellular Therapies’ flagship product, CAPLYTA, an FDA-approved oral therapy for schizophrenia and bipolar depression, and ITI-1284, a pipeline drug being evaluated for generalized anxiety disorder and Alzheimer’s-related psychosis. CAPLYTA is also under FDA review as an adjunctive treatment for major depressive disorder.
