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Market Chatter: J&J to Acquire Intra-Cellular for $132 a Share

Johnson & Johnson in Talks to Acquire Intra-Cellular Therapies

Johnson & Johnson is in negotiations to acquire Intra-Cellular Therapies Inc., a biopharmaceutical company focused on treatments for central nervous system disorders, according to people familiar with the matter. The deal could be finalized as early as this week, although these discussions may not lead to an agreement, and other potential buyers may emerge.

Intra-Cellular’s stock rose 21% in early trading ahead of the New York market opening. The company’s stock has increased by approximately 40% over the last 12 months, giving it a market value of around $10 billion. Intra-Cellular is developing new treatments for mental health disorders and neurological conditions, including a medication for major depressive disorder, which is currently in the final phase of clinical trials. Last week, the company saw a jump in its stock after announcing a settlement with Sandoz over a patent dispute related to Caplyta, a medication for bipolar depression.

Johnson & Johnson has seen a 12% decline in its stock price over the last year, with a market capitalization of $342 billion. A representative from Johnson & Johnson declined to comment, while a spokesperson from Intra-Cellular was unavailable for comment.

If completed, this would be the largest biotechnology deal in over a year, signaling a resurgence of healthcare mergers and acquisitions after a slowdown in 2024 when major pharmaceutical companies reduced deal activity following a post-pandemic boom in acquisitions. This month, medical device maker Stryker Corp. agreed to purchase Inari Medical Inc. for around $4.9 billion.

Johnson & Johnson is taking new steps after the separation of its consumer health division and the acquisition of Shockwave Medical for $13.1 billion. The company aims to maintain growth as it faces the loss of exclusivity for its psoriasis treatment, Stelara. “We definitely still have the financial capacity and strength to make deals, regardless of their size,” said Nauman Shah, global head of business development for J&J’s pharmaceutical division, in an interview for Bloomberg during the BIO International Convention in June. “We’ll focus more on deals in the $5 to $20 billion range, if they make sense.”

These discussions are taking place ahead of the annual healthcare conference in San Francisco. Although timing is variable, companies often announce deals around the JPMorgan Healthcare Conference.

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