10 Firms Dominate Monday Upsurge

1. Intra-Cellular Therapies Inc. (NASDAQ:ITCI)

Shares of Intra-Cellular (ITCI) jumped by more than 34 percent on Monday to end at $127.19 apiece following news that it was set to be acquired by Johnson & Johnson (JNJ) for $14.6 billion. The transaction would mark the latter’s biggest deal in more than two years, bolstering its presence in the brain disease treatments market.

Johnson & Johnson was said to have offered to buy Intra-Cellular shares at a price of $132 each.

The agreement would provide Johnson & Johnson with access to Intra-Cellular’s oral treatment, Caplyta, which is approved in the U.S. for schizophrenia and bipolar disorder-related depressive episodes, along with other experimental drugs in the pipeline.

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Disclosure: None. This article is originally published at Insider Monkey.