Johnson & Johnson swallows another drugmaker in $14.6 billion deal
J&J has spent at least $56.5 billion on acquisitions in the past five years.
Johnson & Johnson announced Monday that it would acquire drugmaker Intra-Cellular Therapies for $14.6 billion, marking its latest bid for growth via swallowing a smaller company.
Intra-Cellular Therapies makes Caplyta, a drug that treats schizophrenia, bipolar disorder, and major depressive disorder. The deal comes right as generics for J&J’s blockbuster psoriasis drug Stelera are set to enter the market.
Generic versions of Caplyta won’t be available until 2040. In July, Johnson & Johnson acquired Yellow Jersey Therapeutics, which is in the late phases of development for a drug for atopic dermatitis (commonly known as eczema).
Johnson & Johnson has also grown its medical-devices business via acquisitions. It bought Shockwave Medical for $13.1 billion in April and V-Wave for $1.7 billion in August. Both companies make cardiovascular devices.
In total, the healthcare giant has spent at least $56.5 billion over the last five years buying up smaller companies. Since 2020, it has acquired 17 companies, six of which were for undisclosed sums.
Johnson & Johnson’s stock price is up about 1% as of Monday afternoon. In the past year it’s fallen more than 10% amid a broader decline in the pharmaceutical sector, which has seen Moderna give up all its pandemic gains.
