Let the proxy fight begin. Activist hedge fund and major Ariad Pharmaceuticals shareholder Sarissa Capital has its own ideas for who it wants in the company's CEO chair--and it's not current helmsman Harvey Berger.
Industry-watchers knew a shake-up could be in Ariad Pharmaceuticals' future when Alex Denner, founder of activist hedge fund Sarissa Capital and protégé of notorious corporate raider Carl Icahn, took a seat on the company's board of directors last year. Now, a proxy brawl looks to be around the corner.
A year after taking a seat on Ariad Pharmaceuticals' board, activist investor Alex Denner is looking to oust CEO Harvey Berger, CNBC reports.
From a slight rise in revenue at the struggling cancer drugmaker Dendreon to a deal-fed increase at Valeant Pharmaceuticals to an against-the-odds upward tick at Germany's Stada, some smaller drugmakers are thumbing their noses at Big Pharma's downward trend this quarter.
Alex Denner has taken a seat with the board of directors at Ariad--a position he demanded back in October when the company's only approved drug, Iclusig, ran into major safety concerns.
Ariad Pharmaceuticals just relaunched its leukemia drug Iclusig last week, but already buyout rumors are buzzing. The U.S.-based biotech saw its shares jump this morning on reports that Eli Lilly is leading a field of several potential buyers.
Ariad Pharmaceuticals is back in the market with Iclusig. The FDA is allowing the Cambridge, MA-based company to again sell the leukemia drug, but with tighter restrictions to face. Ariad has a lot of ground to regain to return to its former glory.
The European Medicines Agency has decided to look again at the clotting risks of Ariad Pharmaceuticals' troubled cancer drug Iclusig.
Drugmaker Ariad left its European operations untouched last month when it took an ax to its workforce after the FDA requested it pull its leukemia drug Iclusig off the market in the U.S. Regulators in the EU did not make the same request, but they also did not ignore the clotting risks that raised a red flag at the FDA.
Ariad Pharmaceuticals is letting go of nearly half its U.S. staff just a week after pulling its leukemia drug Iclusig from the market at the FDA's request.