Bristol Myers Squibb Company is paying $14bn to rapidly ramp up its neuroscience portfolio through the acquisition of Karuna Therapeutics, Inc. and its M1/M4 receptor agonist KarXT (xanomeline-trospium), which is filed with the US Food and Drug Administration for the treatment of schizophrenia with a 26 September 2024 action date. The deal announced on 22 December gives BMS a product with blockbuster potential across multiple indications plus much-needed diversification of its portfolio.
BMS Speeds Expansion Into Neuroscience With $14bn Karuna Buy
Schizophrenia Drug Approval Expected In September
Bristol Myers Squibb will double its neuroscience portfolio from one to two drugs after it pays $330 per share for Karuna and its lead asset KarXT, accelerating the big pharma’s diversification plans.
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