Intra-Cellular Therapeutics Acquired by J&J for $14.6 Billion
Deal News | Jan 13, 2025 | Aescap Venture Management BV
Johnson & Johnson has announced the acquisition of Intra-Cellular Therapeutics for $132 per share, equating to a total valuation of $14.6 billion. This acquisition marks a strategic move for J&J as it aims to expand its footprint in the neurological treatment space. Intra-Cellular, a portfolio company of Aescap Venture Management BV, was initially invested in by Aescap in June 2023 at a price of $61 per share. Prior to the acquisition announcement, Intra-Cellular constituted 7.5% of Aescap's Life Sciences Fund portfolio. The acquisition involves a 39% premium over the recent market price, although a portion of this premium was anticipated due to takeover rumors. Intra-Cellular Therapeutics specializes in developing medicines for neurological disorders; their main product, Caplyta, treats bipolar disorder and schizophrenia, with pending approval for treating depression. The company is also conducting trials for treatments addressing Parkinson's disease and Alzheimer-related psychosis.
Sectors
- Pharmaceuticals
- Private Equity
Geography
- United States – Intra-Cellular Therapeutics operates in the U.S., and J&J, a U.S.-based global healthcare company, is acquiring it.
Industry
- Pharmaceuticals – Intra-Cellular Therapeutics develops medicines for neurological disorders, making the industry highly relevant.
- Private Equity – Aescap Venture Management is a private equity firm that invested in Intra-Cellular, facilitating their acquisition by J&J.
Financials
- $14.6 billion – Total value of the acquisition of Intra-Cellular by Johnson & Johnson.
- 39% – Premium J&J is paying over the last closing share price of Intra-Cellular Therapeutics.
- $132 – Price per share that J&J is paying to acquire Intra-Cellular Therapeutics.
- $94.87 – Closing price of Intra-Cellular shares on the previous Friday before the announcement.
- $61 – Aescap's entry price per share when it invested in Intra-Cellular in June 2023.
- 7.5% – Percentage of Aescap's Life Sciences Fund portfolio that Intra-Cellular represented before the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intra-Cellular Therapeutics | Target Company | Company | A company focused on developing treatments for neurological disorders. |
| Johnson & Johnson | Buyer (Bidding Company) | Company | A multinational corporation acquiring Intra-Cellular to enhance its pharmaceutical division. |
| Aescap Venture Management BV | Private Equity Firm | Company | A private equity firm with a substantial investment in Intra-Cellular Therapeutics. |