BMY

Bristol Myers to buy Karuna Therapeutics for $14 billion - WSJ

Credit: REUTERS/BRIAN SNYDER

Adds details from report

Dec 22 (Reuters) - Bristol Myers Squib BMY.N has reached a deal to buy Karuna Therapeutics KRTX.O for $14 billion, the Wall Street Journal reported on 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.

(Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur)

((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manaswrites15;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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