Glancy Prongay & Murray LLP Commences Investigation on Behalf of Ariad Pharmaceuticals Inc. Investors
October 28 2016 - 12:33PM
Business Wire
Investors with over $100,000 in losses are encouraged to contact
the Firm
Glancy Prongay & Murray LLP (“GPM”) 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, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161028005715/en/
Glancy Prongay & Murray LLP, Los Angeles/New YorkLesley
Portnoy, 310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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