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Shares of Celgene Corp. [s:celg] rose 0.34% in afternoon trading after the U.S. Food and Drug Administration approved Reblozyl. The drug, which treats anemia in patients with beta thalassemia, a rare blood disorder, was developed jointly by the drugmaker and Acceleron Pharma Inc. . It s the first FDA-approved therapy for Acceleron. Acceleron shares were up about 6% to $43.17. Bristol-Myers Squibb s acquisition of Celgene for $74 billion in cash and stock is expected to close by the end of the year. Celgene s stock is up roughly 70% year to date, while the S&P Index has gained 23% this year.

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