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.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.