Bristol Myers' $14B Bet On Schizophrenia - Drug Cuts Symptoms Without Common Side Effect Of Weight Gain Associated With Other Antipsychotics
Portfolio Pulse from Vandana Singh
Bristol Myers Squibb & Co (NYSE:BMY) released data from its Phase 3 EMERGENT program for KarXT, showing favorable impacts on weight and metabolic profiles in schizophrenia patients without the common side effect of weight gain. KarXT led to significant improvements in schizophrenia symptoms across all efficacy measures at 52 weeks. Bristol Myers acquired Karuna Therapeutics Inc. for $14 billion, adding KarXT to its portfolio. BMY shares slightly dropped by 0.14% to $51.26.
April 08, 2024 | 2:31 pm
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Bristol Myers Squibb's KarXT demonstrates significant improvements in schizophrenia treatment with favorable metabolic outcomes, following a $14 billion acquisition of Karuna Therapeutics.
The positive results from the Phase 3 EMERGENT program for KarXT, including significant improvements in schizophrenia symptoms and favorable metabolic outcomes, are likely to be viewed positively by investors and could enhance Bristol Myers Squibb's market position in the psychiatric medication sector. The acquisition of Karuna Therapeutics, which added KarXT to Bristol Myers' portfolio, represents a strategic move to strengthen its product lineup. Despite a slight drop in share price, the overall impact of these developments is expected to be positive in the short term, as the market fully digests the potential of KarXT.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100