Investor Seeks Two Board Seats At Ariad Pharmaceuticals, Inc.

Published: Feb 07, 2014

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

A large shareholder is seeking to get at least two board seats at Ariad Pharmaceuticals Inc , the drugmaker grappling with safety concerns involving its leukemia drug Iclusig, according to people familiar with the matter. Sarissa Capital Management LP, an activist fund run by Alex Denner - investor Carl Icahn's former healthcare lieutenant - disclosed in October that it has taken a 6.2 percent stake in Ariad, becoming the company's second-largest shareholder. Sarissa has spoken to the biotechnology company about adding a few of its own directors to the board and is interested in reaching a settlement before a proxy deadline, the people said, asking not to be named because the matter is private.

Help employers find you! Check out all the jobs and post your resume.

Back to news