BMS wins approval for schizophrenia drug acquired from Karuna [Yahoo! Finance]
Bristol-Myers Squibb Company (BMY)
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Source: Yahoo! Finance
first-in-class schizophrenia drug Cobenfy (xanomeline-trospium), providing patients with a new treatment option not seen in decades. The novel drug – named Cobenfy – introduces a new mechanism of action to the schizophrenia treatment landscape by targeting cholinergic receptors as opposed to dopamine receptors. The market for schizophrenia drugs has long been dominated by dopamine-blocking antipsychotics, which are associated with significant side effects such as Parkinsonian symptoms, sexual dysfunction, and weight gain. Originally developed by Karuna Therapeutics and named KarXT, BMS inherited the drug as part of a $14bn acquisition, which was finalised in March 2024. The acquisition is set to pay off as Cobenfy is set to pull in $2.99bn in sales in 2030, according to GlobalData forecasts. GlobalData is the parent company of Pharmaceutical Technology Cobenfy is a twice-daily pill that combines two drugs: one that targets muscarinic receptors M1 and M4, which increase activit
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News
- Bristol Myers Squibb stock rises following FDA approval of its schizophrenia drug [CNBC]CNBC
- New schizophrenia drug gets FDA approval, taking novel approach to treating brain disorder [FOX News]FOX News
- Bristol Myers Stock Up on FDA Nod for Schizophrenia Treatment [Yahoo! Finance]Yahoo! Finance
- Bristol Myers Squibb Presents New Data from Two Trials Demonstrating Sotyktu (deucravacitinib) Efficacy in both Moderate-to-Severe Scalp Psoriasis and in a Real-World Setting [Yahoo! Finance]Yahoo! Finance
- FDA approves new Bristol Myers Squibb schizophrenia drug [Yahoo! Finance Canada]Yahoo! Finance Canada
BMY
Earnings
- 7/26/24 - Beat
BMY
Sec Filings
- 8/5/24 - Form 4
- 7/31/24 - Form 4
- 7/31/24 - Form 3/A
- BMY's page on the SEC website