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Karuna Therapeutics said Tuesday that its CEO, Steve Paul, will be replaced by Bill Meury, a private equity investor and former pharmaceutical executive, suggesting a takeover is unlikely in the near future.

Paul will remain with the company as chief scientific officer and a member of its board. Christopher Coughlin, the company’s lead independent director, will take Paul’s role as chair of the board. Meury will take over as CEO on Jan. 3.

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