Johnson & Johnson (NYSE: JNJ) is reportedly considering a bid for biopharmaceutical company Intracellular Therapies (NASDAQ: ITCI), with the potential deal reaching completion as soon as this week, according to sources cited by Bloomberg News. The acquisition would be a strategic move for J&J, which could benefit from expanding its neuroscience portfolio through the addition of Intra-Cellular’s prominent drug Caplyta, an FDA-approved treatment for schizophrenia and bipolar disorders.
The market value of Intra-Cellular is estimated at around $10 billion. This acquisition would help Johnson & Johnson counteract revenue challenges that could arise from patent expirations of its blockbuster drugs. While the discussions are still in the early stages and no final decision has been made, there is a palpable sense of optimism, evidenced by a nearly 15% surge in Intra-Cellular shares following the news.
This potential acquisition is part of J&J’s ongoing strategy to invest in high-growth therapeutic areas to maintain its competitive edge in the pharmaceutical sector. However, it remains uncertain whether these negotiations will result in a formal deal.
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