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Big Pharma Groups Including Eli Lilly and Company (LLY) Make "Friendly Approaches" For Ariad Pharmaceuticals, Inc. (ARIA)



1/23/2014 8:08:37 AM

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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.

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