(Bloomberg) -- Bristol Myers Squibb has gathered orders exceeding $85 billion for its corporate bond sale to help finance its acquisitions of Karuna Therapeutics Inc. and RayzeBio Inc., according to people with knowledge of the matter.

The company is said to be targeting $13 billion, according to a person familiar with the matter.

The transaction, which followed investor calls on Tuesday, is expected to be priced on Wednesday. Citigroup Inc., Bank of America Corp., Wells Fargo & Co. and Mizuho Financial Group are managing the deal.  

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