Bristol-Myers Squibb's $14 billion acquisition of Karuna Therapeutics pays off with FDA approval for Cobenfy, a novel schizophrenia drug targeting cholinergic receptors. Cobenfy offers a new treatment approach with milder side effects compared to dopamine-blocking drugs, potentially leading to blockbuster sales. BMS plans to launch Cobenfy at $1,850 per month, with further clinical trials underway for additional indications.