On Friday, U.S. pharmaceutical company Bristol Myers Squibb announced its purchase of biopharmaceutical company Karuna Therapeutics for $14 billion.
The deal will see Bristol Myers Squibb purchase the company for $330 million per share.
Following the news, Karuna’s stock closed 47% higher Friday.
Likewise, Bristol Myers Squibb shares received a 2% bump on the back of the deal’s announcement.
