Takeover speculation, shareholder activism and regulatory scrutiny that erased about $2 billion from its share value are making options in Ariad Pharmaceuticals Inc. among the most expensive in America.
Ariad Pharmaceuticals Inc., the cancer-therapy developer that lost 64 percent of its market value last year, rose for a third day as investors bet the company may attract interest from larger drugmakers.
Sarissa Capital Management LP, the hedge fund of activist investor Alex Denner, boosted its stake in Astex Pharmaceuticals Inc. after the cancer-drug maker accepted an offer of as much as $886 million from Otsuka Holdings Co. that disappointed investors.
Carl Icahn’s top health-care investing executive, Alex Denner, has resigned from the billionaire’s firm, said a person with knowledge of the decision. Denner was said to be planning his own hedge fund.
Alex Denner, the former head of health-care investments for billionaire Carl Icahn, joined the activist slate challenging drugmaker Vivus Inc. in the first move of his new fund, Sarissa Capital Management LP.