Diamonds and Dogs

9/12/22

Bristol (BMY) gets FDA approval for oral plaque psoriasis treatment. The stock is up 5% on the approval with no required "black-boxed warning" on the drug's label which could help boost sales. Amgen's stock is lower as they have a competing drug which does over $2 billion in sales. Psoriasis is a chronic disease that affects 7.5 million in the U.S.

Good news in Ukraine, hitting fertilizer stocks. Mosaic (MOS) one of the largest U.S. fertilizer stocks is down 6% as Ukraine pushes Russian forces back toward their border. Russia and Ukraine combined account for 30% of the fertilizer sales a year.

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