On Friday, shares of BioDelivery Sciences (NASDAQ:BDSI) exploded, up a massive 36% in a single day after a successful phase 3 trial of a pain mitigation pill. This trial success triggers a $10 million milestone for the company and sets BioDelivery up for another $80 million milestone from its partner Endo Health (NASDAQ:ENDP). Buyout speculation has already begun over BioDelivery and the possible success of this drug, so the company will definitely be one to watch, especially as it releases data from a second phase 3 trial later in 2014.

Meanwhile, one of the big losers from Friday's market was Bristol-Myers Squibb (NYSE:BMY). While shares fell by only 5%, it was a steep drop considering the strong Q4 numbers BMY announced. Revenue and earnings both beat estimates handily, at $4.4 billion and $0.51 per share, respectively.

The real reason for the fall was the lack of a decision surrounding the company's immuno-oncology drug Nivolumab, which has been the real driver of value for Bristol in the past year or so. Nivolumab is valuable not only for its own efficacy, but how it could be the central pillar of a drug cocktail for metastatic cancer patients. With the number of different drug combinations being tested in concert with Nivolumab, trial results are complicated, and investors may have to wait for more data to be announced in June to get a bit more color on the Nivolumab investing thesis.

In this video from Friday's Market Checkup, Motley Fool health-care analyst David Williamson gives investors in the health-care sector a full breakdown of one winner and one loser in health care from Friday's market.

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David Williamson owns shares of Merck. Follow David on Twitter: @MotleyDavid.

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