Shares of Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) are rising on the US stock charts today in response to the takeover move. As of the latest pre-market check, ITCI stock was trading up 34.45% to $127.55.
Expansion of Neuroscience Strategically
Intra-Cellular Therapies (ITCI) and Johnson & Johnson (JNJ) announced their purchase deal. Under the terms of the agreement, JNJ will be able to purchase all of the remaining ITCI shares for $132.00 each in cash, making the deal worth about $14.6 billion. The purchase aligns with Johnson & Johnson’s almost 70-year history of innovation in neuroscience.
JNJ hopes to transform the treatment of neuropsychiatric and neurodegenerative disorders by incorporating intracellular therapies into its Innovative Medicine business. JNJ’s portfolio will be strengthened by ITCI’s primary medication, CAPLYTA (lumateperone), which has been authorized to treat bipolar disorder and schizophrenia.
Promising Future for CAPLYTA
CAPLYTA, characterized by its unique receptor profile, has demonstrated robust efficacy, favorable safety, and tolerability across approved indications. Recent Phase 3 studies revealed its potential as an adjunctive therapy for major depressive disorder (MDD), marking it as a potential first in over 15 years to address both MDD and bipolar-related depressive symptoms. With ongoing trials targeting additional indications, CAPLYTA could redefine treatment standards for mental health disorders.
Transaction Details and Timeline
According to the agreement, JNJ would prioritize research investments and shareholder returns, have a healthy balance sheet, and finance the purchase with a combination of debt and cash reserves. The transaction is anticipated to finalize later this year, subject to regulatory and shareholder clearances.
Because its stock will no longer be listed on the Nasdaq, Intra-Cellular Therapies (ITCI) will become even more integrated into JNJ’s business activities after the acquisition closes. Johnson & Johnson’s dedication to neuroscience innovation is demonstrated by this purchase, which promises improved patient care and long-term benefit for all parties involved.
