The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Robert Cyran
NEW YORK, Jan 13 (Reuters Breakingviews) - The $344 bln healthcare firm has spent years dealing with lawsuits and pruning assets. Meanwhile, novel drug developers’ stocks have been stuck in purgatory for a decade, making them look cheap. For giants like Johnson & Johnson in need of new products an M&A solution is obvious.
Full view will be published shortly.
Follow @rob_cyran on X
CONTEXT NEWS
Johnson & Johnson said on Jan. 13 it had agreed to buy Intra-Cellular Therapies for $132 a share, or approximately $14.6 billion, in cash. That is a 39% premium compared to closing stock prices on Jan. 10, the last day of trading before the announcement.
Intra-Cellular’s drug Caplyta, which has been approved to treat depressive disorder associated with bipolar disease and schizophrenia, had $481 million of sales in the first nine months of 2024. The company said in its third-quarter conference call that the drug represents at least a $5 billion annual opportunity within ten years.
(Editing by Jonathan Guilford and Pranav Kiran)
((For previous columns by the author, Reuters customers can click on CYRAN/robert.cyran@thomsonreuters.com))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。