Trending: Bristol Myers to Buy Karuna Therapeutics for $14 Billion
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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