(Reuters) – Johnson & Johnson said on Monday it would buy drugmaker Intra-Cellular Therapies for about $14.6 billion, boosting its presence in the market for neurological disorder treatments.
J&J will buy all of Intra-Cellular’s shares for $132 apiece, representing a 39% premium to their Friday closing price.
Shares of Intra-Cellular rose 35% to $128 in premarket trading.
The deal is the latest in a string of acquisitions by J&J as it looks to drive growth beyond 2025, when its blockbuster psoriasis drug Stelara could face competition from as many as six biosimilar versions in the U.S.
With the latest deal, J&J will gain access to Intra-Cellular’s oral drug Caplyta, which is approved to treat schizophrenia and depressive episodes associated with bipolar disorder. The treatment brought in $481.3 million in sales in the first nine months of 2024.
Intra-Cellular is also seeking expanded regulatory approval in the U.S. for Caplyta as an add-on therapy for major depressive disorder.
The company is also testing another therapy, ITI-1284, in mid-stage studies for the treatment of generalized anxiety disorder and Alzheimer’s-related psychosis and agitation.
Last year, J&J acquired Numab’s skin disorder drug for $1.25 billion and bought drug developer Proteologix for $850 million.
The healthcare giant also acquired heart device maker Shockwave Medical in a $13.1 billion deal and took over V-Wave for $1.7 billion to bolster growth at its medical device business.
J&J said it expects to fund the transaction with Intra-Cellular, likely to close later this year, through a combination of cash on hand and debt.
Bloomberg News had first reported the news on Jan. 12, citing people familiar with the matter.
(Reporting by Puyaan Singh and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar)
