Johnson & Johnson (JNJ.N) said on Monday it would buy drugmaker Intra-Cellular Therapies (ITCI.O) 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.
