Johnson & Johnson Acquires Intra-Cellular Therapies for $14.6 Billion, Expanding Neuroscience Portfolio

Acquisition Details:
Johnson & Johnson (J&J) has agreed to acquire Intra-Cellular Therapies for $14.6 billion, expanding its neuroscience portfolio14.

Key Asset:
The acquisition includes Caplyta (lumateperone), a once-daily oral therapy approved for schizophrenia and bipolar depression, with a potential label expansion for major depressive disorder14.

Pipeline Assets:
J&J will also gain ownership of ITI-1284, a Phase II compound for generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation, as well as other neuro assets in development for Parkinson’s disease, pain, opioid use disorder, and mood disorders14.

Strategic Impact:
The acquisition is seen as a strategic growth catalyst for J&J, further differentiating its portfolio and addressing significant neuropsychiatric and neurodegenerative disorders14.

Regulatory and Financial Details:
The transaction is expected to close later in 2025, pending regulatory and antitrust clearance, and will be funded through cash and debt14.

Industry Context:
This deal is the fourth multi-billion dollar neuroscience acquisition after Karuna, Cerevel, and Longboard, validating the size of major CNS end-markets despite the presence of generics1.

Contrasting Performance:
Meanwhile, Regeneron reported preliminary Q4 Eylea HD U.S. net product sales of $305 million, which was seen as relatively dismal compared to expectations25.

Sources:

1. https://www.biospace.com/business/johnson-johnson-makes-major-neuro-play-with-14-6b-intra-cellular-buyout

2. https://markets.businessinsider.com/news/stocks/regeneron-reports-preliminary-q4-eylea-hd-u-s-net-product-sales-of-305m-1034221854

4. https://www.globenewswire.com/news-release/2025/01/13/3008254/30597/en/Johnson-Johnson-Strengthens-Neuroscience-Leadership-with-Acquisition-of-Intra-Cellular-Therapies-Inc.html

5. https://investor.regeneron.com/static-files/b34b39df-ce23-455f-850f-de8014890270