Bristol Myers bets on neuroscience surge with $14B Karuna cash acquisition

Bris­tol My­ers Squibb will buy CNS drug­mak­er Karuna Ther­a­peu­tics for cash in a deal val­ued at $14 bil­lion, the com­pa­nies an­nounced Fri­day morn­ing.

The move comes a few weeks af­ter Ab­b­Vie signed its own $8.7 bil­lion deal for a neu­ro­science drug­mak­er, the fur­ther be­hind Cerev­el Ther­a­peu­tics. Both are de­vel­op­ing a new type of schiz­o­phre­nia drug, with the FDA set to de­cide on Karuna’s KarXT by Sept. 26, 2024, while Cerev­el is in late-stage clin­i­cal tri­als.

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