Johnson & Johnson Announces Expected Closing Date for Intra-Cellular Acquisition

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--April 01, 2025-- 

Johnson & Johnson $(JNJ)$ today announced that following the approval of its pending acquisition of Intra-Cellular Therapies, Inc. by Intra-Cellular Therapies' shareholders on March 27, 2025, Johnson & Johnson intends to complete its acquisition of Intra-Cellular Therapies on or around April 2, 2025.

The transaction is expected to accelerate 2025 sales growth for Johnson & Johnson by approximately 0.8% with approximately $0.7 billion in incremental sales. Inclusive of the impact of financing costs, Johnson & Johnson expects the transaction to dilute adjusted earnings per share (EPS) by approximately $0.25 in 2025, an improvement from the $0.30 -- $0.35 originally estimated on the Company's Q4 2024 earnings call. In 2026, Johnson & Johnson expects the earnings dilution to be reduced to approximately $0.21 per share as annualized financing costs are partially offset by operational accretion. Johnson & Johnson will include these estimates in its full-year 2025 financial outlook when it reports first quarter results on April 15, 2025.

Following the completion of the transaction, Intra-Cellular Therapies' common stock will cease trading on the NASDAQ Global Select Market.

This release corrects a prior statement that the closing had occurred.

About Johnson & Johnson

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity. Learn more at www.jnj.com/ or at www.innovativemedicine.jnj.com. Follow us at @JNJInnovMed.

CAUTIONS CONCERNING FORWARD-LOOKING STATEMENTS:

   -- This press release contains "forward-looking statements" regarding the 
      acquisition of Intra-Cellular Therapies by Johnson & Johnson and 
      CAPLYTA$(R)$ and development programs. The reader is cautioned not to rely 
      on these forward-looking statements. These statements are based on 
      current expectations of future events. If underlying assumptions prove 
      inaccurate or known or unknown risks or uncertainties materialize, actual 
      results could vary materially from the expectations and projections of 
      Johnson & Johnson or Intra-Cellular Therapies. 
 
   -- Risks and uncertainties include, but are not limited to: the completion 
      of the acquisition in the expected timeframe; challenges inherent in 
      product research and development, including uncertainty of clinical 
      success and obtaining regulatory approvals; uncertainty of commercial 
      success for new products; manufacturing difficulties and delays; product 
      efficacy or safety concerns resulting in product recalls or regulatory 
      action; economic conditions, including currency exchange and interest 
      rate fluctuations; the risks associated with global operations; 
      competition, including technological advances, new products and patents 
      attained by competitors; challenges to patents; changes to applicable 
      laws and regulations, including tax laws and global health care reforms; 
      adverse litigation or government action; changes in behavior and spending 
      patterns or financial distress of purchasers of health care services and 
      products; and trends toward health care cost containment. 
 
   -- In addition, there will be risks and uncertainties related to the ability 
      of the Johnson & Johnson family of companies to successfully integrate 
      the programs, products, technologies and employees/operations and 
      clinical work of Intra-Cellular Therapies. A further list and description 
      of these risks, uncertainties and other factors and the general risks 
      associated with the respective businesses of Johnson & Johnson and 
      Intra-Cellular Therapies can be found in Johnson & Johnson's Annual 
      Report on Form 10-K for the fiscal year ended December 29, 2024, filed 
      with the SEC on February 13, 2025, including in the sections captioned 
      "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk 
      Factors," and in Johnson & Johnson's subsequent filings with the SEC and 
      in Intra-Cellular Therapies' Annual Report on Form 10-K for the fiscal 
      year ended December 31, 2024, filed with the SEC on February 21, 2025, 
      including in the sections captioned "Cautionary Statement Regarding 
      Forward-Looking Statements" and "Item 1A. Risk Factors," and in 
      Intra-Cellular Therapies' subsequent filings with the SEC. Copies of 
      these filings, as well as subsequent filings, are available online at 
      www.sec.gov, www.jnj.com, www.intracellulartherapies.com, or on request 
      from Johnson & Johnson or Intra-Cellular Therapies. 
 
   -- Neither Johnson & Johnson nor Intra-Cellular Therapies undertakes to 
      update any forward-looking statement as a result of new information or 
      future events or developments, except as required by law. 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401997629/en/

 
    CONTACT:    Johnson & Johnson 

Media Contact:

media-relations@its.jnj.com

Investor Contact:

investor-relations@its.jnj.com

(END) Dow Jones Newswires

April 01, 2025 16:06 ET (20:06 GMT)