J&J: agreement to acquire Intra-Cellular Therapies

(CercleFinance.com) - Johnson & Johnson reports that it has entered into a definitive agreement to acquire Intra-Cellular Therapies, a biopharmaceutical company focused on central nervous system (CNS) disorders, for a total net value of approximately $14.
6 billion.

The agreement includes Caplyta, an oral treatment approved to treat adults with schizophrenia, as well as depressive episodes associated with bipolar I or II disorder (bipolar depression), both as monotherapy and adjunctive therapy.

The acquisition also includes ITI-1284, a promising Phase 2 compound being studied in generalized anxiety disorder (GAD) and Alzheimer's disease-related psychosis and agitation, as well as a clinical-stage pipeline.

Under the terms of the agreement, J&J will acquire all outstanding shares of Intra-Cellular Therapies at a price of $132 per share in cash. Subject to applicable approvals, the transaction is expected to close later this year.

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