Bristol-Myers Squibb's acquisition of Karuna and FDA approval of Cobenfy signal growth potential, with focus on driving revenue. Read my update on BMY stock.

This is a big approval for the company, given that Cobenfy doesn’t have the classic side effects seen in other antipsychotic drugs.

The U.S. Food and Drug Administration (FDA) on Thursday approved Bristol Myers Squibb’s (BMY) highly anticipated schizophrenia drug, Cobenfy. It’s the first novel treatment for the debilitating mental disorder in over seven decades.