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Bristol Myers to Buy Karuna Therapeutics for $14B

Bristol Myers to Buy Karuna Therapeutics for $14B
(AP)

Friday, 22 December 2023 06:56 AM EST

Bristol Myers Squib has reached a deal to buy Karuna Therapeutics for $14 billion, The Wall Street Journal reported 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.

© 2025 Thomson/Reuters. All rights reserved.


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Bristol Myers Squib has reached a deal to buy Karuna Therapeutics for $14 billion, The Wall Street Journal reported Friday.
bristol myers squib, karuna therapeutics
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2023-56-22
Friday, 22 December 2023 06:56 AM
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