Johnson & Johnson (JNJ) has announced that it plans to acquire drugmaker Intra-Cellular Therapies (ITCI), which specializes in neurological treatments, for $14.6 billion U.S.
Johnson & Johnson will buy all of Intra-Cellular’s shares for $132 apiece, representing a nearly 40% premium to their closing price on Jan. 10.
The deal is the latest in a string of acquisitions by Johnson & Johnson as it looks for new growth opportunities.
Last year, Johnson & Johnson acquired Numab’s skin disorder drug for $1.25 billion U.S. and also bought drug developer Proteologix for $850 million U.S.
The company also acquired heart device maker Shockwave Medical in a $13.1 billion U.S. deal and took over V-Wave for $1.7 billion U.S. to bolster its medical device business.
This latest acquisition will give Johnson & Johnson access to Intra-Cellular’s oral drug Caplyta, which is approved to treat schizophrenia and bipolar disorder.
The Caplyta treatment brought in $481.3 million U.S. 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 depression.
Johnson & Johnson said the deal to purchase Intra-Cellular is likely to close later this year, and that it plans to fund the deal through a combination of cash and debt.
The stock of Johnson & Johnson has declined 12% over the past year to trade at $142.06 U.S. per share.
Intra-Cellular Therapies’ stock is up 35% to $128 U.S. a share on news that it is being acquired.