Johnson & Johnson said Monday it would buy Intra-Cellular Therapies in a deal worth $14.6 billion, another sign of large drugmakers’ reentry into neuroscience and a sizable purchase that will provide a boost as the industry gathers for one of its largest events of the year.
With the acquisition, the pharma giant will get Intra-Cellular’s Caplyta, which is approved to treat schizophrenia and bipolar-related depression. Intra-Cellular last month filed the drug with U.S. regulators as a treatment that could be combined with regular antidepressants to treat major depressive disorder, potentially opening up a substantial market.
J&J is paying $132 a share in cash for its fellow New Jersey-based company, a 60% premium on Intra-Cellular’s closing price on Friday. Bloomberg reported the companies were in talks on Sunday.
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