Jan 13, 2025 - Business

J&J strikes $14.6 billion deal for Intra-Cellular Therapies

Dan Primack

Illustration of a desk lamp shining down upon a human brain — Illustration: Sarah Grillo/Axios

Johnson & Johnson on Monday said that it's agreed to acquire CNS biotech Intra-Cellular Therapies for $14.6 billion in cash, or $132 per share.

Why it matters: This would be the largest biotech merger since 2023, nearly tripling the size of last year's record-holder (Vertex/Alpine Immune).

It also kicks off the JPM Healthcare Conference, which is where future mergers often get hatched.

By the numbers: Intra-Cellular shares jumped nearly 15% on Friday, on an announcement that it had settled a patent dispute with Sandoz over the bipolar drug Caplyta.

J&J is paying around a 60% premium to Thursday's closing price and a 39% premium to Friday's closing price.

Go deeper, via Bloomberg: "Intra-Cellular develops new treatments for mental health disorders and neurological conditions and is currently working on a drug for major depressive disorder that's in late-stage trials."

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J&J strikes $14.6 billion deal for Intra-Cellular Therapies

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