BMY

The contingent value right ((CVR)) issued to Celgene shareholders as part of its $74B merger with Bristol Myers Squibb ([[BMY]] -0.5%) is up 121% today although still down ~13% year to date. Volume is

(Bloomberg) -- The deal sweetener Bristol Myers Squibb Co. offered as a part of its Celgene Corp. purchase spiked as traders positioned ahead of a key year-end deadline and shared optimism related to a needed regulatory inspection.The $9 all-or-nothing payment jumped as much as 55% to the highest level in about three weeks as investors weighed whether U.S. regulators could inspect a facility key to the derivative’s payout in time for a year-end deadline.While traders await word from the company on the state of the inspection, they shared commentary from another drug manufacturer at an Evercore ISI event Wednesday that said a site inspection had just been completed. Fans of the so-called contingent value right, or CVR, viewed the update as a positive sign that the Food and Drug Administration is still inspecting facilities amid the pandemic.The derivative, which has been volatile since plummeting a month ago, depends on FDA approval of the company’s cancer drug lisocabtagene maraleucel by the end of the year as well as approval of a second drug, idecabtagene vicleucel in multiple myeloma, by March 31.Investors have been doing their best to read the tea leaves for what would prove to be a very profitable trade if Bristol Myers can clear the two remaining hurdles. The derivative spiked last week as traders circulated a tweet from FDA Commissioner Stephen Hahn, which signaled the agency is ramping up inspections of drug manufacturing sites.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

This coming weekend, doctors who treat blood disorders will convene virtually to discuss new treatments that are extending the lives of patients.

The "Multiple Myeloma Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

New York, New York--(Newsfile Corp. - December 1, 2020) - Portage Biotech (OTC Pink: PTGEF) (CSE: PBT.U) is an emerging biotechnology company developing an immunotherapy focused pipeline to treat a broad range of cancers. Unlike most biotechs though, Portage focuses on combining its own technology with already proven immune-boosting PD1 agents.

The U.S. Food and Drug Administration's approval machinery churned out a lot of disappointments in November. Most of the negative verdicts were tied to difficulties the agency has had in inspecting facilities where investigational drugs are being manufactured, amid COVID-19-related restrictions.

Given strong dividend growth and big money signals, these stocks could be worth a spot in a yield-oriented portfolio.

Bristol Myers (BMY) obtains EC approval for Opdivo as a second-line treatment for unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma.