09:11 AM EST, 01/13/2025 (MT Newswires) -- Johnson & Johnson ( JNJ ) on Monday agreed to acquire Intra-Cellular Therapies ( ITCI ) for about $14.6 billion in cash to strengthen its neuroscience portfolio.

Under the terms of the deal, the healthcare products conglomerate will buy all Intra-Cellular's shares at $132 apiece. Intra-Cellular develops treatments for central nervous system disorders. Shares of the biopharmaceutical firm jumped 34% in premarket activity, while Johnson & Johnson ( JNJ ) edged 0.4% higher.

"This unique opportunity to add Intra-Cellular Therapies ( ITCI ) to our innovative medicine business demonstrates our commitment to transforming care and advancing research in some of today's most devastating neuropsychiatric and neurodegenerative disorders," Johnson & Johnson ( JNJ ) Chief Executive Joaquin Duato said in a statement. The transaction "further differentiates" the company's portfolio and is expected to serve as a catalyst for short- and long-term growth, according to Duato.

The deal, which requires clearance from regulators and approval from Intra-Cellular's stockholders, is expected to be completed later this year. Following the completion of the deal, Intra-Cellular will no longer trade on the Nasdaq global select market.

The acquisition will give Johnson & Johnson ( JNJ ) access to Caplyta, or lumateperone, Intra-Cellular's once-daily oral therapy to treat adults with schizophrenia, as well as depressive episodes related to bipolar disorders. The product has been approved by the US Food and Drug Administration for the treatment of schizophrenia and bipolar depression.

The deal also includes the company's therapeutic candidate for generalized anxiety disorder and Alzheimer's disease-related psychosis and agitation.

"Johnson & Johnson ( JNJ ) has a longstanding commitment to neuroscience, and we believe together, we can reach even more patients around the world," Intra-Cellular CEO Sharon Mates said.

Johnson & Johnson ( JNJ ) aims to fund the transaction through a combination of cash on hand and debt. The company said it will provide details on any potential impact to its adjusted per-share earnings from the deal when it discloses its full-year 2025 outlook along with its fourth-quarter results later this month.