Bristol Myers to buy Karuna Therapeutics for $14 billion - WSJ (updated)

Karuna Therapeutics

22/12/2023 11:42

(Adds details from report)
       Dec 22 (Reuters) - Bristol Myers Squib  BMY.N  has
reached a deal to buy Karuna Therapeutics  KRTX.O  for $14
billion, the Wall Street Journal reported on Friday. 
    Under the terms of the deal, Bristol would pay $330 a share
in cash for Karuna and its experimental schizophrenia drug,
which is now up for U.S. government approval, according to the
report. 
    The offer price represents a 53.4% premium to Karuna's last
closing price of $215.19. 
    Karuna and Bristol did not immediately respond to Reuters
requests for comment. 

 (Reporting by Manas Mishra in Bengaluru; Editing by Arun
Koyyur)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15;))