Bristol Myers Squibb (BMS; NYSE: BMY), a leading US pharmaceutical company, has announced its intention to acquire Karuna Therapeutics, Inc. (NASDAQ: KRTX) for a total consideration of USD 14 billion. This acquisition will bolster BMS’s product pipeline with the inclusion of the antipsychotic drug KarXT (xanomeline-trospium), which is currently awaiting regulatory approval for the treatment of schizophrenia in the United States.
KarXT is a novel drug candidate that targets both the M1 and M4 muscarinic receptors and is in development for the treatment of mental and neurological disorders, including schizophrenia and Alzheimer’s disease as adjunctive therapy. In a significant move in November 2021, Zai Lab Ltd (NASDAQ: ZLAB, HKG: 9688), a Chinese pharmaceutical company, entered into a USD 187 million licensing agreement with Karuna, securing exclusive development and commercialization rights for the drug in Greater China.- Fineline.com
