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Karuna Therapeutics surges 47% after Bristol Myers Squibb announces $14 billion deal

Bristol Myers Squibb on Friday announced it agreed to buy biopharmaceutical company Karuna Therapeutics for 14billionincash,or14 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 3%.The deal will help expand Bristol Myers' drug pipeline after competition from a generic offering caused demand for the company's blood cancer drug Revlimid to tumble in its third quarter. The boards of directors at both Bristo ...