Johnson & Johnson will buy for 14,6 billion of dollars Intra-Cellular Therapies, the American biopharmaceutical group founded by neuroscientist Paul Greengard, who won the Nobel Prize for Medicine in 2000 thanks to his studies on the nervous system.
Details of J&J and Intra-Cellular agreement
The American giant has reached a definitive agreement for the purchase of the entire capital of the group for a sum equal to $132 per share cash.
Intra-Cellular's portfolio includes the drug Caplyta, used in the treatment of schizophrenia and bipolar depression, and ITI-1284, a phase 2 therapy studied for anxiety and psychosis and agitation related to Alzheimer's. The closing of the operation is expected to take place by the end of 2025 and aims to delisting of Intra-Cellular shares.
Johnson & Johnson management will provide an update on the impact of the transaction on the company’s guidance when it releases its fourth-quarter results on January 22.
On the Nasdaq, a few minutes before the opening, Intra-Cellular shares rise more than 34% at $127,43 per share, while Johnson & Johnson stock rose 1,1% to $143,6.
J&J CEO: “Acquisition is a strategic catalyst for growth”
“Building on our nearly 70-year legacy in neuroscience, this unique opportunity to add Intra-Cellular Therapies to our Innovative Medicine business demonstrates our commitment to transforming care and advancing research in some of today's most devastating neuropsychiatric and neurodegenerative disorders,” said Joaquin Duato, CEO of Johnson & Johnson.
“This acquisition further differentiates our portfolio, serves as a strategic growth catalyst in the short and long term for Johnson & Johnson and offers compelling value to patients, health systems and shareholders,” he added.