Why Ariad Pharmaceuticals (ARIA) is Soaring
The drugmaker was popping on news its leukemia drug Iclusig could return to the market, albeit with more restrictive labeling and safety information. The medicine was suspended by the Food and Drug Administration in October on concerns it caused a higher risk of blood clots.
"Commercial distribution of Iclusig will begin by mid-January at which time we will deploy dedicated commercial and medical affairs teams in the U.S. In the meantime, patients will continue to receive Iclusig through the IND mechanism," said Ariad Executive Vice President Marty Duvall in a statement. "We expect the commercialization of Iclusig to be cash-flow positive from the onset."