Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0799
    +0.0006 (+0.05%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2638
    +0.0015 (+0.12%)
     
  • USD/JPY

    151.1920
    -0.1800 (-0.12%)
     
  • Bitcoin USD

    70,404.73
    -635.97 (-0.90%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Ariad to relaunch leukemia drug with new warnings

Ariad says FDA OKs marketing of Iclusig after adding new safety warnings

CAMBRIDGE, Mass. (AP) -- Ariad Pharmaceuticals has received approval to relaunch its leukemia drug Iclusig after addressing safety concerns raised by federal regulators in October.

Company shares jumped more than 20 percent.

Ariad added new warnings about potential blood clots and the risk of heart failure to the drug's label. Additionally the company revised prescribing information on which patients should receive the drug. Ariad expects to resume marketing by mid-January.

The Food and Drug Administration asked the company to halt sales and promotion of the drug, citing the danger of life-threatening blood clots.

Under a new risk management plan, the company is required to educate doctors about the drug's blood clot risks and new prescribing indication. Additionally, the FDA is requiring Ariad to track blood clot rates in patients taking Iclusig across several studies.

The re-entry of the drug earn a $3 price target increase from Stifel Nicolaus, to $10. Shares rose $1.19 to $6.71 by midafternoon.

"We see quick uptake in sales and revise our 2014 sales estimates to $125 million from $120 million," wrote analyst Joel Sendek.

Advertisement