Bristol Myers Squibb announces that it has entered into a definitive agreement to acquire Karuna Therapeutics for $330 per share in cash, representing a total equity value of $14 billion ($12.7 billion excluding estimated cash).

This company, which specializes in psychiatric and neurological disorders, holds in particular KarXT, a potential treatment for schizophrenia and Alzheimer's disease psychosis, with promise in other indications.

The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including the green light from Karuna's shareholders and receipt of the required regulatory approvals.

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