Bristol Myers Squibb completed the acquisition of Karuna Therapeutics from PureTech for $12.7bn.

Bristol Myers Squibb, a global biopharmaceutical company, completed the acquisition of Karuna Therapeutics, a biopharmaceutical company, from PureTech, a biotechnology company which develops medicines to combat serious diseases, for $12.7bn. “There 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. This 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,” Christopher Boerner, Bristol Myers Squibb CEO.