Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Independent UK
The Independent UK
National
Via AP news wire

Bristol Myers Squibb acquires Karuna Therapeutics for $14 billion, boosting neuroscience portfolio

AP2005

Drugmaker Bristol Myers Squibb is acquiring Karuna Therapeutics, a biopharmaceutical company that has developed a new antipsychotic, in a $14 billion deal.

Bristol Myers Squibb and Karuna announced their merger agreement on Friday. The transaction, which amounts to $330 per share in cash, offers a premium of 53% over Karuna's stock on Thursday. The deal was unanimously approved by both companies' boards of directors.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.