Bristol-Myers Squibb (BMY) has trumpeted its deal for Celgene (CELG) as an opportunity to create the number 1 producer of cancer treatments and an earnings powerhouse, but Wall Street does not seem convinced, as investors worry that the combination will do little to improve the prospects for the two drugmakers, Andrew Bary writes in this week’s edition of Barron’s. With the selloff, however, the stock now looks inexpensive and if the Street warms to the transaction, the shares could rally, the publication notes, adding that it could also attract a bid from the likes of AbbVie (ABBV), Amgen (AMGN), or Pfizer (PFE)
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