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


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)


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