{"id":58627,"date":"2023-12-22T13:08:02","date_gmt":"2023-12-22T12:08:02","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/bristol-myers-squibb-strengthens-neuroscience-portfolio-with-acquisition-of-karuna-therapeutics\/"},"modified":"2023-12-22T13:08:02","modified_gmt":"2023-12-22T12:08:02","slug":"bristol-myers-squibb-strengthens-neuroscience-portfolio-with-acquisition-of-karuna-therapeutics","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/bristol-myers-squibb-strengthens-neuroscience-portfolio-with-acquisition-of-karuna-therapeutics\/","title":{"rendered":"Bristol Myers Squibb Strengthens Neuroscience Portfolio with Acquisition of Karuna Therapeutics"},"content":{"rendered":"
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\nTransaction Delivers KarXT, a First-in-Class M1 \/ M4 Muscarinic Receptor Agonist, with Differentiated Efficacy and Safety<\/i><\/p>\n

\nKarXT Is a Potential First-in-Class Treatment for Schizophrenia and as an Adjunctive Therapy, and First-in-Disease Treatment for Alzheimer\u2019s Disease Psychosis, with Promise in Additional Neuropsychiatric and Neurodegenerative Indications<\/i><\/p>\n

\nKarXT Is Expected to Launch in the U.S. for the Treatment of Schizophrenia in Adults with a Prescription Drug User Fee Act Date of September 26, 2024<\/i><\/p>\n

\nBristol Myers Squibb to Host a Conference Call Today at 8:00 a.m. ET<\/i><\/p>\n

PRINCETON, N.J. & BOSTON–(BUSINESS WIRE)–$KRTX<\/a>–Bristol Myers Squibb (NYSE: BMY) and Karuna Therapeutics, Inc. (NASDAQ: KRTX) (\u201cKaruna\u201d) today announced that they have entered into a definitive merger agreement under which Bristol Myers Squibb has agreed to acquire Karuna for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired. The transaction was unanimously approved by both the Bristol Myers Squibb and Karuna Boards of Directors.<\/p>\n

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\nKaruna is a biopharmaceutical company driven to discover, develop and deliver transformative medicines for people living with psychiatric and neurological conditions. Karuna\u2019s lead asset, KarXT (xanomeline-trospium), is an antipsychotic with a novel mechanism of action (MoA) and differentiated efficacy and safety. Karuna\u2019s New Drug Application (NDA) for KarXT for the treatment of schizophrenia in adults was accepted for review by the U.S. Food and Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) date of September 26, 2024. KarXT is also in registrational trials both for adjunctive therapy to existing standard of care agents in schizophrenia and for the treatment of psychosis in patients with Alzheimer\u2019s disease. Bristol Myers Squibb believes KarXT represents a significant revenue contribution opportunity. Bristol Myers Squibb also sees potential from Karuna\u2019s early-stage and pre-clinical pipeline.<\/p>\n

\n\u201cThere are tremendous opportunities in neuroscience, and Karuna strengthens our position and accelerates the expansion and diversification of our portfolio in the space. We expect KarXT to enhance our growth through the late 2020s and into the next decade,\u201d said Christopher Boerner, Ph.D., Chief Executive Officer of Bristol Myers Squibb. \u201cThis transaction fits squarely within our business development priorities of pursuing assets that are strategically aligned, scientifically sound, financially attractive, and have the potential to address areas of significant unmet medical need. We look forward to welcoming the talented Karuna team to Bristol Myers Squibb.\u201d<\/p>\n

\n\u201cSchizophrenia and Alzheimer\u2019s disease psychosis affect millions of people worldwide, with limited to no treatment options. KarXT\u2019s novel mechanism has resulted in a transformational profile in schizophrenia, with compelling efficacy and a differentiated safety profile,\u201d said Samit Hirawat, M.D., Executive Vice President, Chief Medical Officer, Drug Development of Bristol Myers Squibb. \u201cKarXT also has the potential to deliver meaningful benefits to patients as an adjunctive treatment for patients with schizophrenia and as a first treatment for Alzheimer\u2019s disease psychosis.\u201d<\/p>\n

\nBill Meury, President and Chief Executive Officer of Karuna Therapeutics, said, \u201cKaruna\u2019s portfolio offers advancements in treatment not seen in many years. With Bristol Myers Squibb\u2019s long-standing expertise in developing and commercializing medicines on a global scale and legacy in neuroscience, KarXT and the other assets in our pipeline will be well-positioned to reach those living with schizophrenia and Alzheimer\u2019s disease psychosis. This announcement is a testament to the Karuna team\u2019s talent, hard work, and innovation.\u201d<\/p>\n

\nDelivering Meaningful Benefits to Patients with KarXT<\/b><\/p>\n

\nKarXT targets both the M1 and M4 muscarinic receptors, resulting in a differentiated safety and efficacy profile. KarXT has demonstrated improvements in cognition and is not associated with common side effects of currently approved treatments, including no meaningful weight gain, extrapyramidal symptoms, increased prolactin levels, akathisia and\/or sedation.<\/p>\n

\nGiven this differentiated profile, KarXT has meaningful and expanding revenue potential in schizophrenia and with upside in additional indications and geographies:<\/p>\n