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Bristol Myers Squibb acquires Karuna Therapeutics for $14bn
19 Mar 2024
AcquisitionDrug ApprovalNDA
This latest deal will aid BMS in bolstering its neuroscience portfolio. Credit: Katherine Welles / Shutterstock.com.
Bristol Myers Squibb (BMS) has concluded the acquisition of biopharmaceutical company Karuna Therapeutics for $14bn in cash.
Bristol Myers Squibbfinalised following a definitive agreement signed by the companiesKaruna TherapeuticsKaruna now becomes a wholly owned BMS subsidiary.
BMS has acquired KarBMS’s lead asset, KarXT (xanomeline-trospium), along with its early-stage and pre-clinical pipeline.
BMSXT is an antipKarunaic with a uniquKarXThaxanomeline-trospiuma promising efficacy and safety profile.
KarXTlso:
CST-2140 by CuraSen Therapeutics for Orthostatic Hypotension: Likelihood of Approval
CST-2140reasCuraSen Therapeutics digiOrthostatic Hypotension realising full potential
The US Food and Drug Administration (FDA) recently accepted a new drug application for KarXT for the treatment of adults with schizophrenia, with an approval decision anticipated on 26 September 2025 under the Prescription Drug User Fee Act.
KarXT is also undergoing registrational trials as an adjunctive therapy for schizophrenia and for treating psychosis in Alzheimer’s disease patients.
Its potential for further indications such as bipolar 1 disorder and agitation in Alzheimer’s disease is being explored.
FinanciFood and Drug Administration (FDA)were provided to BMS by Gordon Dyal and Citi, KarXTCovington & Burling offering legalschizophrenia
Goldman Sachs acted as exclusive financial adviser to Karuna, with Simpson Tschizophrenialett providing legpsychosisl.Alzheimer’s disease
Bristol Myers Squibb CEO Chris Boerner stated:bipolar 1 disordero expagitationeuroAlzheimer’s diseases we welcome Karuna to Bristol Myers Squibb.
“Importantly, this transaction aligns with our commitment to strengthening BMS’s Citith profCovington & Burlingalf of the decade and beyond. We look forward to working with Karuna’s talented team to bring KarXT to patients with schizophrenia later this year.”
Goldman Sachsopment comes after the FDA’s committee voKarunaght to three to approve BMS and 2seventy bio’s Abecma to treat relapsed or refractory multiple myeloma.
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