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Schizophrenia Drug

All articles tagged with #schizophrenia drug

business2 years ago•2 min saved

Bristol Myers Acquires Karuna Therapeutics in $14 Billion Deal

Bristol Myers Squibb has agreed to acquire Karuna Therapeutics for $14 billion, gaining access to Karuna's experimental schizophrenia drug, KarXT. The acquisition will help Bristol Myers Squibb offset revenue losses from the expiration of patents on its older therapies. KarXT is a new type of antipsychotic medicine that activates muscarinic receptors in the central nervous system, offering potential benefits over existing treatments. The deal is expected to impact Bristol Myers Squibb's earnings per share in 2024 due to financing costs.

via Reuters|

#antipsychotic-medicine #bristol-myers-squibb #business

business2 years ago•1 min saved

Bristol Myers Acquires Karuna Therapeutics in $14 Billion Deal, Sending Stock Soaring

Bristol Myers Squib has agreed to acquire Karuna Therapeutics for $14 billion in cash, securing a promising experimental schizophrenia drug to drive growth as patents on its older therapies expire. The deal includes a 53.4% premium to Karuna's last closing price. Bristol Myers has been under pressure to expand its drug pipeline due to declining demand for its top drugs, Revlimid and Eliquis. The acquisition is expected to enhance Bristol's growth in the coming years, with analysts forecasting significant sales for Karuna's drug, KarXT. The deal is anticipated to impact Bristol's earnings per share in 2024 due to financing costs.

via CNBC|

#acquisitions #bristol-myers-squib #business

pharmaceuticals2 years ago•6 min saved

Karuna's Schizophrenia Drug Advances Towards 2024 Launch Despite Safety Concerns.

Karuna Therapeutics' investigational schizophrenia treatment, KarXT, has shown a statistically significant and clinically meaningful reduction in symptoms compared to placebo in another Phase III clinical trial. The biotech hopes to submit a mid-2023 approval request for the drug, which could open the doors for a new class of medication for the millions of people living with the disorder. Meanwhile, BioNTech has signed an exclusive deal with OncoC4 to co-develop and co-commercialize OncoC4’s monoclonal antibody candidate for a variety of cancer indications, paying $200 million upfront for ONC-392, OncoC4’s anti-CTLA-4 candidate.

via Endpoints News|

#biontech #fda #karuna-therapeutics