Bristol-Myers Acquired Drug KarXT Poised For FDA Approval As First New Type Of Schizophrenia Treatment In 70 Years

The experimental drug KarXT, developed by Karuna Therapeutics, is expected to receive FDA approval later this month (Sept. 26), marking a significant breakthrough in schizophrenia treatment. If approved, KarXT would become the first novel schizophrenia drug in over 70 years, offering new hope for patients and medical professionals alike. Schizophrenia, a mental disorder that affects approximately 3.8 million adults in the U.S., is often characterized by severe symptoms such as social isolation, memory issues and psychotic episodes. Last year, Bristol-Myers Squibb & Co (NYSE:BMY) acquired Karuna Therapeutics for $330 per share in cash for a total equity value of $14 billion, or $12.7 billion net ...