On December 22nd local time, Bristol Myers Squibb and Karuna Therapeutics announced that they had signed a final merger agreement. According to the agreement, Bristol Myers Squibb has agreed to acquire Karuna for $330.00 per share in cash, with a total share capital value of $14 billion. The board of directors of both companies unanimously approved this acquisition, which is expected to be completed in the first half of 2024. In addition, according to the press release, Karuna's drug for treating adult schizophrenia, KarXT, is expected to be launched in the United States on September 26, 2024.