It’s what Bristol-Myers execs aren’t saying that makes one key analyst wonder about a potential buyout offer, looming Opdivo data and Plan B

Bristol-Myers Squibb called a hurried session with sell-side analysts Friday morning as part of their campaign to prevent the Celgene deal from unraveling after its largest investor bolted. Execs had some familiar things to say about the bright side of the deal. But it’s what they wouldn’t say that got Wolfe’s savvy Tim Anderson to raise some thorny issues.