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Gilead is under enormous pressure from investors to acquire companies or develop new drugs from its pipeline.
Celgene is not some dinky micro-cap biotech lacking the resources or knowledge to conduct a rigorous clinical trial, so omitting a placebo arm from the GED-0301 study is inexcusable.
Although Gilead Sciences (GILD) shares could experience volatility leading into the U.S. presidential election, Jefferies said investors should buy the stock.
Investors had reduced expectations for Celgene's experimental pill for Crohn's disease, which makes the new clinical data released Sunday night look all right, although doubts will persist.