Credit Suisse Reports Ariad's Iclusig is 'Essential Drug'.
Kantor noted that a survey from 50 doctors suggests that Ariad's Iclusig remains the “essential drug” for chronic myeloid leukemia patients with T3151 or other mutations. The analyst commented that doctors have a heightened awareness of safety concerns. Credit Suisse added that 38% of doctors sampled report observing at least one adverse event listed in warnings in Iclusig prescribing information.
Ariad Pharmaceuticals closed at $7.17 on Thursday. Shares were up 5.6% in pre-market trading and have traded as high as $8.29, up 15.62% on Friday.
As shareholders, we benefit from extending the offer period as long as possible. Importantly, under the Otsuka merger agreement, if a minimum number of shares are not tendered on October 10, Otsuka must extend the offer for a period of at least 10 business days and must then extend the offer for a second 10 business day period if this minimum condition is again not satisfied after the expiration of the first extension. This process at least offers an opening to potential bidders who were shut out or wary of the process to engage with the company. We are reaching out to potential bidders who we believe were left out of the process. Bizarrely, Astex only just yesterday released a potential bidder from the standstill where they could not even communicate with Astex. Notably, since Otsuka does not have the ability to terminate the transaction for any material adverse change related to the results of any clinical trials being conducted by Astex, we believe there is minimal risk that any negative clinical data presented during the successive tender periods could adversely affect the contemplated transaction.
Sarissa Capital Issues Open Letter Regarding Astex Pharmaceuticals
Sarissa Capital will not tender at current price
Sarissa Capital believes flawed process led to low price
NOT TOO LONG - Sarissa Capital formally announces its intention not to tender any of its shares for the $8.50 per share takeover offer of Astex Pharmaceuticals .
Wait for SHORT Cover
Alex Denner clears path for Takeover.
I believe he made big mistake of his career by writing for ONE SHORT SELLER.
Lilly needs the boost. The Indianapolis drug maker is expected to lose about $7 billion of its $23 billion in yearly sales over the next few years as aging blockbusters like Cymbalta start facing generic competition.
To make up for the lost sales, Lilly has been looking for new products, such as an experimental lung-cancer treatment and diabetes therapy taken once weekly in development.
Shame on you
I will have blocked every $ARIA retail trader from my Twitter feed. And it will feel good.