Trending: Bristol Myers to Buy Karuna Therapeutics for $14 Billion
December 22 2023 - 10:15AM
Dow Jones News
10:45 ET -- Bristol Myers Squibb is one of the most mentioned
companies in the U.S. across all news items in the last 12 hours,
according to Factiva data. Bristol Myers Squibb reached a deal to
buy neuroscience-drug developer Karuna Therapeutics for $14
billion. Under the terms, Bristol would pay $330 a share in cash
for Karuna and its experimental schizophrenia drug now up for U.S.
government approval. Bristol expects the deal, which includes $1.3
billion in cash that Karuna has on hand, would close in the first
half of next year. Dow Jones & Co. owns Factiva.
(chris.wack@wsj.com)
(END) Dow Jones Newswires
December 22, 2023 11:00 ET (16:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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