Bristol-Myers Squibb Co. (NYSE: BMY) gained slightly Friday on news it brought a patent suit against Merck & Co., Inc. (NYSE: MRK) related to a skin cancer drug.
Merck on Thursday won accelerated U.S. marketing approval for its Keytruda treatment for a common and deadly form of skin cancer. Bristol said the drug unlawfully exploits its May 20 immunotherapy patent.
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Bristol-Myers, Roche Holding AG and Novartis AG are all at work on similar products. Bristol-Myers expects a decision from the Food and Drug Administration on its nivolumab skin cancer treatment in mid 2015.
The suit, filed Thursday in federal court in Wilmington, Delaware, is Bristol-Myers Squibb v. Merck & Co., 14-cv-01131, U.S. District Court, District of Delaware (Wilmington).
Bristol Myers closed at $51.12, up 1.1 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.