Activist Hedge Fund Sarissa Takes a Stake in Wounded Biotech Ariad Pharmaceuticals, Inc.
Published: Oct 30, 2013
Oct 29 (Reuters) - Sarissa Capital Management LP, a hedge fund run by investor Carl Icahn's former healthcare lieutenant, has taken a 6.22 percent stake in the wounded biotechnology company Ariad Pharmaceuticals Inc.
Ariad's shares have fallen more than 80 percent since Oct. 9, when it announced that the U.S. Food and Drug Administration had placed a partial hold on patient enrollment in clinical trials of its cancer drug Iclusig due to safety concerns.
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