Intra-Cellular Therapies Surges 32% As J&J Explores Bid for Biopharmaceutical Company
Drug maker Johnson & Johnson is exploring a bid to acquire Intra-Cellular Therapies, a biopharmaceutical company, Bloomberg News reported on Sunday, citing people familiar with the matter.
Intra-Cellular has a market value of about $10 billion, according to LSEG data.
Talks are still ongoing and a deal is not certain, the report said, adding that other potential suitors could also emerge.
Intra-Cellular Therapies shares surged 31.7% in premarket trading Monday.
Medical-device maker Stryker had, on Monday, agreed to acquire Inari Medical, which makes devices that treat patients with venous diseases, in an all-cash deal worth $4.9 billion.
Healthcare is an active sector for M&A, with deals such as Johnson & Johnson's acquisition of heart device business Shockwave Medical for $13.1 billion announced in April, and KKR's acquisition of a stake in health tech firm Cotiviti in February 2024.
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