Bristol Myers Squibb Boosts Its Neuroscience Reach With $14 Billion Karuna Deal

Key TakeawaysBristol Myers Squibb will pay $14 billion to buy Karuna Therapeutics to boost its neuroscience portfolio.The deal gives Karuna investors $330 per share, a 53% premium to yesterday's closing price.Karuna Therapeutics shares soared to an all-time high following the news.Karuna Therapeutics (KRTX) shares skyrocketed over 46% after Bristol Myers Squibb (BMY) said it would buy the biopharmaceutical firm for $14 billion to expand its neuroscience portfolio.Bristol Myers Squibb said it would pay Karun ...