From CNBC:



Bristol Myers Squibb was welcomed to the New York Stock Exchange on November 20th, 2020. The company announced its acquisition of Karuna Therapeutics for $14 billion in cash, causing a significant increase in Karuna’s stock price. The acquisition will expand Bristol Myers’ drug pipeline and strengthen its position in the neuroscience space. Karuna’s lead asset, KarXT, is expected to serve as a treatment for adults with schizophrenia beginning in late 2024. The company’s portfolio also includes treatments for Alzheimer’s disease psychosis and bipolar disorder. The deal is expected to be finalized in the first half of 2024. Citi and Gordon Dyal & Co advised Bristol Myers on the deal, while Goldman Sachs served as the exclusive advisor for Karuna.



Original: Bristol Myers Squibb to buy Karuna Therapeutics