J&J explores takeover bid for Intra-Cellular Therapies, Bloomberg reports By Investing.com

Investing.com– Johnson & Johnson (NYSE: ) is considering a bid to acquire a biopharmaceutical company Intracellular T: (NASDAQ:), Bloomberg News reported on Sunday, citing sources familiar with the matter.

A deal between the two parties could be completed as early as this week, according to a Bloomberg report. Intra-Cellular’s market value is approximately $10 billion.

The intracellular therapy is best known for Caplyta, an FDA-approved treatment for schizophrenia and bipolar disorder.The potential acquisition could help J&J expand its neuroscience portfolio and offset revenue challenges expected from patent expirations for its blockbuster drugs. :

It is said that the discussions are in the preliminary stage and there is no final decision. According to the sources, there is no guarantee that the talks will lead to a formal deal.

Shares of Intra-Cellular rose nearly 15% on Friday, reflecting investor anticipation of a potential deal.

J&J remains active in its pursuit of high-growth therapeutic areas, aiming to strengthen its pharmaceutical division’s growth amid intensifying competition.