Ariad Pharmaceuticals Inc.
|Company Name||Ariad Pharmaceuticals Inc.|
The Firm announces an investigation on behalf of Ariad Pharmaceuticals Inc. (“Ariad” or the “Company”) (NASDAQ: ARIA) investors concerning the Company and its officers’ possible violations of federal securities laws.
Ariad is an oncology company that engages in the discovery, development and commercialization of drugs for cancer patients in the United States and internationally.
On October 6, 2016, a report entitled, "How Ariad Pharma Used a Safety Problem to Jack Up a Cancer Drug's Price," highlighted the ways in which Ariad was able to inflate the price for its leukemia drug, Iclusig. Following the FDA’s decision to put Iclusig back on the market, but with a reduced recommended dose and more restricted approved use, Ariad allegedly ultimately "embarked on a series of massive price increases" for its now-niche drug, rather than reduce its price to accurately reflect the FDA’s recommendations. Then, on October 14, 2016, Senator Bernie Sanders criticized the Company for hiking the prices of its drugs.
Following this news, Ariad shares fell nearly 15%, or $1.93 per share, to close at $11.14 on October 14, 2016.
If you purchased Ariad securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224 or by email to email@example.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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