In a significant strategic move, Johnson & Johnson has committed to acquiring Intra-Cellular Therapies for approximately $14.6 billion in cash. This acquisition aims to bolster J&J’s neuroscience portfolio, enhancing its capabilities in addressing neurological disorders. Under the finalized terms, Johnson & Johnson will purchase all outstanding shares of Intra-Cellular at a price of $132 each.
Intra-Cellular is recognized for developing innovative treatments targeting central nervous system disorders. As a result of this announcement, the biopharmaceutical company's shares surged by 34% in premarket trading, while Johnson & Johnson saw a modest rise of 0.4%. The acquisition signifies a pivotal moment for Johnson & Johnson’s innovative medicine division.
CEO Joaquin Duato emphasized this transaction as a unique opportunity to integrate Intra-Cellular's operations, reinforcing J&J's dedication to enhancing care and advancing research in neuropsychiatric and neurodegenerative disorders. Duato highlighted that this move not only diversifies the company's portfolio but also positions it for substantial growth in both the short and long term. The deal is conditional upon regulatory approvals and the endorsement of Intra-Cellular’s shareholders and is anticipated to be finalized later this year.
Upon completion, Intra-Cellular will cease trading on the Nasdaq global select market. This acquisition will empower Johnson & Johnson with access to Caplyta (lumateperone), a once-daily oral medication designed for adults suffering from schizophrenia and bipolar depression. Notably, Caplyta has received approval from the US Food and Drug Administration (FDA) for these mental health conditions.
Furthermore, the deal encompasses Intra-Cellular's novel therapeutic candidate targeting generalized anxiety disorder and alleviating psychosis and agitation linked to Alzheimer’s disease. Intra-Cellular's CEO, Sharon Mates, stated, "Johnson & Johnson has a longstanding commitment to neuroscience, and we believe together, we can reach even more patients around the world," illustrating a united vision for future growth and patient outreach. To finance this acquisition, Johnson & Johnson plans to utilize a mix of available cash and debt options.
The company will disclose the potential impact of this transaction on its adjusted per-share earnings in its upcoming full-year 2025 projections during the fourth-quarter results announcement later this month..