Bristol Myers Squibb Completes Acquisition Of Karuna Therapeutics - Quick Facts

(RTTNews) - Bristol Myers Squibb (BMY) has successfully completed its acquisition of Karuna Therapeutics, Inc. Karuna shares have ceased trading on the Nasdaq Global Select Market and Karuna is now a wholly owned subsidiary of Bristol Myers Squibb. The company said, as previously disclosed, the transaction is expected to be dilutive to non-GAAP earnings per share by approximately $0.30 in 2024 from the financing cost of the transaction.

Bristol Myers Squibb noted that the transaction will be accounted for as an asset acquisition resulting in an approximately $12 billion one-time, non-deductible Acquired In-Process Research and Development or Acquired IPR&D charge impacting both 2024 first quarter and full-year GAAP and non-GAAP EPS by approximately $5.93.

For More Such Health News, visit rttnews.com.