J&J to buy Intra-Cellular Therapies for $14.6 billion (updated)

Intra-Cellular Therapies

13/01/2025 11:38

(Adds shares and premium in paragraphs 2 and 3)
       Jan 13 (Reuters) - 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. 
    Last year, J&J acquired Numab's skin disorder drug for $1.25
billion, and spent $850 million to buy drug developer
Proteologix. It also acquired heart device maker Shockwave
Medical  SWAV.O  in a $13.1 billion deal, and took over V-Wave
for $1.7 billion to help bolster growth at its medical device
business.    
    
   

 (Reporting by Puyaan Singh and Bhanvi Satija in Bengaluru;
Editing by Shilpi Majumdar)
 ((Puyaan.Singh@thomsonreuters.com;))