Johnson & Johnson (NYSE:JNJ) is reportedly in talks to acquire neuroscience-focused biotech firm Intra-Cellular Therapies for $10bn.
If completed, the deal would mark the largest biotech acquisition since Pfizer’s $43bn purchase of Seagen in 2023.
The potential deal reflects Johnson & Johnson (NYSE:JNJ)’s strategy to offset looming revenue losses as patents expire on key drugs.
With $120bn in cash and debt capacity, the company has focused on acquisitions, including a $13.1bn purchase of Shockwave Medical last year.
An announcement could coincide with the JPMorgan healthcare conference, though talks are ongoing and subject to change. Neither company has commented.
Intra-Cellular develops treatments for central nervous system disorders, including major depressive disorder and Parkinson’s disease.
Its leading drug, Caplyta, approved for bipolar depression, generated $464 million in sales in 2023.
The company recently resolved a patent dispute ensuring no generic competition for Caplyta until 2040, boosting its share value by nearly 15%.