Johnson & Johnson announced on Monday that it anticipates using the $14.6 billion acquisition of Intra-Cellular Therapies Inc. to boost sales growth in the neuroscience sector above Wall Street’s projections.
During Monday’s premarket trade, Intra-Cellular Therapies’ shares (ITCI) was up 36%. During premarket trading, Johnson & Johnson’s (JNJ) stock had a little decline.
Johnson & Johnson stated that it would purchase Intra-Cellular for $132 per share. On Friday, the stock closed at $94.87 per share. The shares of Intra-Cellular will be delisted as a result of the sale, which is anticipated to finalize later this year.
J&J stated that when it releases its fourth-quarter results on January 22, it will offer revised adjusted profit outlook.
“As the mental health crisis surges and the global population ages, more than one billion people worldwide – or one in every eight people – are living with a neuropsychiatric or neurodegenerative disorder,” claimed J&J.
As an adjuvant therapy for major depressive disorder (MDD), Intra-Cellular Therapies produces Caplyta, which has produced encouraging Phase III evidence. various Phase 3 trials for various medicines are also underway.
According to the business, Caplyta may soon be the first medication licensed for MDD and depressive symptoms linked to bipolar I and II in over 15 years.
“We believe Caplyta has the potential to become a new standard of care for the treatment of some of today’s most prevalent and debilitating mental health disorders,” said J&J.
J&J stated that Caplyta will strengthen its “robust lineup of therapies with $5 billion-plus potential in peak year sales and further solidifies sales growth above analyst expectations now through the remainder of the decade.”
It also has “best-in-disease potential in generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation,” according to J&J, and a “promising” clinical-stage pipeline.
The significant purchase was made fewer than 18 months after Johnson & Johnson split off Kenvue Inc. (KVUE), its consumer goods division, in order to concentrate more on its pharmaceutical division.
According to the business, Caplyta may soon be the first medication licensed for MDD and depressive symptoms linked to bipolar I and II in over 15 years.
