Johnson & Johnson will acquire all outstanding shares of CNS disorder specialists Intra-Cellular Therapies for $132 per share in cash for a total equity value of approximately $14.6 billion — marking J&J’s biggest deal in at least two years.
The star of the deal is Intra-Cellular's FDA-approved and potential blockbuster drug, Caplyta. The once-daily oral capsules were first approved in 2019 for the treatment of schizophrenia and then subsequently became the first and only FDA-approved treatment for bipolar depression as an adjunctive and monotherapy in 2021.
Intra-Cellular is also seeking an expanded regulatory approval for Caplyta as an add-on treatment for major depressive disorder. If the sNDA is approved, Caplyta could become the standard of care for most common depressive disorders.
The acquisition also includes Intra-Cellular's ITI-1284, a phase 2 compound being studied in generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation, as well as a clinical-stage pipeline.
J&J expects the transaction to close later this year.