Reported 1 day ago
Johnson & Johnson (J&J) announced its acquisition of Intra-Cellular Therapies (ITCI) for $14.6 billion, marking its largest deal in two years. This strategic move aims to enhance J&J's position in the neurological drug market following the spinoff of its consumer health unit. J&J's offer of $132 per share represents a 39% premium over ITCI's recent closing price. The acquisition will grant J&J access to approved therapies like Caplyta and the experimental ITI-1284 aimed at treating various neurological disorders.
Source: YAHOO