Three international pharma groups including US giant Eli Lilly make 'friendly approaches' for Ariad Pharmaceuticals
By GEOFF FOSTER
PUBLISHED: 17:01 EST, 22 January 2014 | UPDATED: 05:35 EST, 23 January 2014
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Ever since Ariad Pharmaceuticals’ Ponatinib treatment for leukemia was given the green light by American regulator, the FDA, industry majors have been sniffing around.
As its shares changed hands at $6.50, valuing the Massachusetts-based company at around £800m, dealers heard whispers from across the Pond that at least three international pharma groups including US giant Eli Lilly have made ‘friendly approaches’ to the Ariad board and are prepared to pay up to $20 a share in cash to gain control.
Ariad recently announced the commercial availability of Ponatinib for adult patients with refractory chronic myeloid leukemia, increasing its attraction to global players who wants to enhance its position in the crucial cancer treatment field.
Eli Lilly is said to be well ahead of the field and could soon swallow Ariad with loose change. Other interested parties believed to be keeping a close eye on the situation in case Eli walks away are GlaxoSmithKline, 11.5p off at 1650p, and Shire, 25p better at 3023p.
Read more: http://www.dailymail.co.uk/money/markets/article-2544120/MARKET-REPORT-Three-pharma-groups-size-Ariad.html#ixzz2rlLtYVd1
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