Intra-Cellular Therapies Stock Pops as Johnson & Johnson Buys Firm for $14.6B

Core Insights - Johnson & Johnson (JNJ) is acquiring Intra-Cellular Therapies (ITCI) for approximately $14.6 billion, leading to a 35% surge in ITCI's shares during premarket trading [1] - The acquisition price is set at $132 per share, representing a 40% premium over ITCI's closing price at the end of the previous week [2] - Intra-Cellular's Caplyta, which treats schizophrenia and bipolar I and II depression, has recently settled a patent lawsuit, contributing to a 15% increase in its share price prior to the acquisition announcement [2] - Intra-Cellular has additional drugs in development targeting Alzheimer's Disease and Parkinson's Disease, enhancing its portfolio value [3] - The deal is expected to close later this year, pending regulatory and shareholder approvals, with JNJ financing the acquisition through cash and debt [4] - JNJ plans to provide insights on the potential impact of the acquisition on adjusted earnings per share during its fourth-quarter earnings call on January 22 [4] - Following the announcement, Intra-Cellular shares reached a record high of $127.90, while JNJ's shares remained stable at $142.49 [5]