Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) ended Monday session in red amid volatile trading. The shares closed down -0.10 points or -0.73% at $13.59 with 3.89 million shares getting traded. Post opening the session at $13.62, the shares hit an intraday low of $13.32 and an intraday high of $13.70 and the price vacillated in this range throughout the day. The company has a market cap of $2.62 billion and the numbers of outstanding shares have been calculated to be 192.71 million shares.
Ariad Pharmaceuticals, Inc. (ARIA) announced that its partner Otsuka Pharmaceutical Co., Ltd. (Otsuka) has received approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) for Iclusig® (ponatinib) for the treatment of chronic myeloid leukemia (CML) resistant or intolerant to preceding drug treatment and relapsed or treatment resistant Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL).
“Our collaboration with Otsuka has resulted in approval of Iclusig in Japan, providing an important new treatment for patients with refractory CML and Ph+ ALL,” stated Paris Panayiotopoulos, president and chief executive officer of ARIAD. “Japan represents a large market opportunity for Iclusig and its first approval in Asia. We are committed to expanding patient access and to continuing our successful partnership with Otsuka as evidenced by recent marketing applications for Iclusig submitted in Korea and Taiwan.”
This approval triggers a $10 million milestone payment to ARIAD from Otsuka under the parties’ collaboration agreement entered in December 2014.
”Treatment failure affects a substantial proportion of CML patients treated with tyrosine kinase inhibitors due to resistance or intolerance. For these patients living with CML in Japan, we are grateful to have Iclusig as a new approved treatment option,” said Arinobu Tojo, M.D., Ph.D, deputy director, Research Hospital, The Institute of Medical Science at the University of Tokyo.
Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) ended Monday session in red amid volatile trading. The shares closed down -0.40 points or -0.33% at $122.14 with 1.48 million shares getting traded. Post opening the session at $122.41, the shares hit an intraday low of $120.36 and an intraday high of $122.80 and the price vacillated in this range throughout the day. The company has a market cap of $27.96 billion and the numbers of outstanding shares have been calculated to be 224.25 million shares.
Alexion Pharmaceuticals, Inc. (ALXN) announced the launch of Uncommon Strength, a global campaign to raise awareness of rare diseases through the celebration of the extraordinary resilience and inner strength of those impacted by these diseases. Uncommon Strength (www.UncommonStrength.com) supports global rare disease communities, including those impacted by atypical hemolytic uremic syndrome (aHUS), paroxysmal nocturnal hemoglobinuria (PNH), hypophosphatasia (HPP), and lysosomal acid lipase deficiency (LAL-D) with educational information as well as interactive social media elements to unite the community.
People living with rare diseases, and their families, must demonstrate “uncommon strength” as they persevere to find answers about their diseases. Reaching a diagnosis for a rare disease can be a long and challenging experience because the conditions are often unknown, misunderstood, or misdiagnosed. In fact, the average time from a person’s first symptom to receiving an accurate diagnosis of a rare disease is nearly five years, during which he or she may visit more than seven physicians.
“At Alexion, we are inspired by patients and families living with rare diseases and recognize the inner strength and perseverance they must have to face the ongoing challenges they encounter, such as receiving an accurate and timely diagnosis and appropriate medical care,” said David Hallal, Chief Executive Officer of Alexion. “To all of us at Alexion, patients with rare diseases are true heroes, and it is our hope that the Uncommon Strength campaign will amplify their voices and generate the much needed awareness to reach more patients and families who are still seeking answers.”