U.S. pharmaceutical company Johnson & Johnson (J&J) announced on the 13th (local time) that it will acquire U.S. central nervous system (CNS) disease-focused biotech company Intra-Cellular Therapies for approximately 21 trillion won.
The acquisition transaction was announced alongside the opening of the world's largest investment event in the pharmaceutical and biotech industry, the '2025 JPMorgan Healthcare Conference (JPMHC),' held in San Francisco.
The acquisition amount reaches $14.6 billion (about 21.43 trillion won). This is evaluated as the largest transaction price in the pharmaceutical and biotech sector since Danish pharmaceutical company Novo Nordisk acquired U.S. contract development and manufacturing organization (CDMO) Catalent for $16.5 billion (approximately 24 trillion won) in February last year.
With this acquisition, J&J added Intra-Cellular Therapies' schizophrenia and bipolar disorder treatment Caplyta to its portfolio and secured candidates for treating major neurological diseases.
Caplyta (ingredient name lumateperone) is an innovative drug that received marketing approval from the U.S. Food and Drug Administration (FDA) in December 2019 as a treatment for schizophrenia. It is an oral medication taken once daily that acts as a serotonin, dopamine, and glutamate receptor antagonist. Subsequently, it received additional approval as a treatment for bipolar disorder in 2021, driving the company's growth.
According to Intra-Cellular, cumulative sales for the first three quarters of last year reached $481 million (about 703 billion won), a 45% increase compared to the same period the previous year. The company is currently pursuing the expansion of indications for Caplyta as a treatment for depression. Depression is an area with many patients that can enhance profitability. The London Stock Exchange Group (LSEG) predicts that Caplyta will generate over $1 billion (approximately 1.4611 trillion won) in revenue next year.
The company is also developing anxiety treatments related to anxiety disorders and Alzheimer's disease, as well as treatments for Parkinson's disease. ITI-1284, which is being developed as an anxiety treatment related to anxiety disorders and Alzheimer's disease, has entered clinical phase 2, while ITI-214, being developed as a treatment for Parkinson's disease, is expected to complete phase 2 clinical studies by the end of this year.
Joaquin Duato, CEO of J&J, noted, 'This acquisition will further differentiate our portfolio, drive J&J's growth, and provide attractive value to patients, healthcare systems, and shareholders.' Sharon Mates, CEO and Chair of Intra-Cellular, said, 'Johnson & Johnson has long been dedicated to neuroscience,' adding, 'By partnering with this company, we can reach more patients worldwide.'
Meanwhile, the largest transaction in the history of M&A between global pharmaceutical corporations occurred in March 2022 when U.S. pharmaceutical company Pfizer acquired U.S. cancer drug developer Seegene for $43 billion (approximately 62 trillion won).