How Merck Caused Bristol-Myers' Plunge

How a Merck cancer breakthrough caused Bristol-Myers’ stock to plunge


Rival drugmakers Bristol-Myers Squibb Co. and Merck & Co., which are both developing a treatment for the same type of lung cancer, have been playing a game of stock market seesaw.
Never was that more true than Monday, when Merck’s MRK, +1.80% positive clinical trial data lifted it a mere 1.6%, while Bristol’s BMY, -0.14% bad news — made worse in contrast with Merck’s — sent it shuddering down 10.6%.
Merck announced two positive clinical trial results on Sunday, both for its Keytruda treatment on metastatic non-small cell lung cancer, and published the results in respected journals on Monday.

http://www.marketwatch.com/story/ho...used-bristol-myers-stock-to-plunge-2016-10-10

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