Bristol Myers Squibb on Friday announced it agreed to buy biopharmaceutical company Karuna Therapeutics for $14 billion in cash, or $330 per share. Karuna’s stock popped more than 47% on the news Friday morning, hitting around $317 a share. Bristol Myers Squibb shares rose more than 2%. The deal will help expand Bristol Myers’ drug … Read more
A sign stands outside a Abbvie facility in Cambridge, Massachusetts, May 20, 2021. Brian Snyder | Reuters AbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per share for Cerevel. AbbVie said it expects to complete the acquisition in … Read more
McDonald’s french fries being prepared. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Rivian Automotive — Rivian Automotive shares tanked 19% after the electric vehicle maker announced plans to raise $1.5 billion in convertible notes and offered preliminary third-quarter revenue guidance roughly in line with Wall Street’s … Read more
Aykut Karahan | Istock | Getty Images Shares of Structure Therapeutics rose more than 30% on Friday after the biotech startup’s experimental obesity pill succeeded in a small early-stage trial. The once-daily drug helped overweight or obese participants reduce up to 10 pounds of weight on average after four weeks of treatment, according to a … Read more
The Amgen brand is displayed exterior Amgen headquarters on Might 17, 2023 in Thousand Oaks, California. Mario Tama | Getty Pictures The Federal Commerce Fee on Friday stated it has reached a cope with drug big Amgen to permit the corporate’s $27.8 billion buy of Horizon Therapeutics to maneuver ahead. The 2 firms now anticipate … Read more