Is The Buzz Surrounding Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) Right?
As the reports of a speculative nature emerged that the Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) can possibly be acquired, the stock prices zoomed to $7.52, after gaining 12%. The reports suggest that some of the pharmaceutical leaders across the globe have shown interest to rescue the leukemia drug maker through a takeover.
Ariad’s Plans ForIclusig
Ariad’s one of the flagship product Iclusig, had made a comeback in the U.S. Market last week, as it gets through all the hurdles and hitches swirled in it by the regulators. However, the other pause moment for the Ariad is that it got the regulatory nod for Iclusig to only treat a few sections of patients, who are not responding to any other drug. After which, while addressing the investors at the J.P. Morgan Healthcare conference, Harvey Berger, the company’s chief executive officer said that the company intents to regain the trust in its drug Iclusig through further clinical studies. They aim to expand the treatment of Iclusig to a broader section of patients suffering from leukemia and other diseases.
Takeover By Strong Bidders
Among the race of potential bidders include Eli Lilly and Co., an Indianpolis based giant, British’s Glaxosmithkline PLC and Shire PLC of Ireland. Shire PLC, inparticular, is all way up to get more “friendlier” with the Ariad leadership.However, all the three pharmaceutical giants along with Ariad kept mum over the reports and declined to comment.
Of late, the renowned Cambridge drug maker hit the rough patch after its most ambitious drug Iclusig was called off in the U.S. markets in October. Since then, the company has made efforts to win the trust of regulators as well as the customers.. In this process, Ariad did gain some vote of confidence from its patients and doctors. Eventually they got restricted approval from the FDA, however, the whole situation has changed its revenue estimations significantly