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Johnson & Johnson has completed its $14.6 billion acquisition of Bedminster-based neurological drugmaker Intra-Cellular Therapies.

The New Brunswick-headquartered pharma giant announced the closing in an April 2 press release. According to J&J, Intra-Cellular Therapies will now operate as a unit within its Innovative Medicine business.

Founded in 2002, Intra-Cellular focuses on developing treatments for mental health and neurological disorders and conditions.

Its portfolio includes Caplyta (lumateperone), a once-daily oral therapy approved for adults with schizophrenia and bipolar depression. In February, the U.S. Food and Drug Administration accepted Intra-Cellular’s supplemental new drug application for Caplyta as an add-on treatment for adults with major depressive disorder, J&J said.

According to the buyer, Caplyta will add to its “robust lineup of therapies with $5 billion-plus potential in peak year sales and further solidifies sales growth above analyst expectations now through the remainder of the decade.”

Intra-Cellular Therapies also offers a “promising” clinical-stage pipeline with “best-in-disease potential in generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation,” J&J said. That includes ITI-1284, a Phase 2 compound under study for generalized anxiety disorder (GAD) and Alzheimer’s disease-related psychosis and agitation.

‘Growth catalyst’

In a statement, Johnson & Johnson Chairman and CEO Joaquin Duato said, “We are committed to transforming care for the millions of people worldwide living with neuropsychiatric and neurodegenerative disorders. We are excited to officially welcome the talented Intra-Cellular Therapies team to the Company, and we look forward to working together as we realize our ambition of becoming the number one neuroscience company worldwide.”

Jennifer Taubert, executive vice president and worldwide chair of innovative medicine at Johnson & Johnson, said, “We are focused on investing in what we believe is the future of innovation across our targeted therapeutic areas, including neuroscience.”

“We are pleased to finalize this acquisition, which serves as a strategic near- and long-term growth catalyst for Johnson & Johnson, and we look forward to working together to continue transforming treatment and patient care for some of today’s most debilitating neuropsychiatric and neurodegenerative disorders,” she said.

J&J announced the deal in January. At the time, Reuters noted it would be one of the biggest biotech M&A transactions since 2023.

It’s also the latest in a string of acquisitions by J&J. Purchases over the last year include:

• V-Wave Ltd. for $600 million in October 2024
• Yellow Jersey Therapeutics for $1.25 billion in July 2024
• Proteologix Inc. for $850 million in June 2024
• Shockwave Medical for $13.1 billion in May 2024