Summary by Moomoo AI
On March 18, 2024, Bristol-Myers Squibb (BMS) announced the successful completion of its acquisition of Karuna Therapeutics, Inc., a move that strengthens BMS's neuroscience portfolio. The acquisition results in Karuna becoming a wholly owned subsidiary of BMS, with Karuna's common stock ceasing to trade on the Nasdaq. The transaction involved the conversion of each Karuna share into the right to receive $330.00 in cash. BMS's acquisition includes KarXT, a potential first-in-class schizophrenia treatment with a PDUFA date set for September 26, 2024, and a pipeline of early-stage and pre-clinical neuroscience assets. The acquisition is expected to be dilutive to BMS's non-GAAP diluted earnings per share by approximately $0.30 in 2024 due to financing costs, but BMS plans...Show More