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.
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.
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.
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.
The four nominees billionaire investor Carl Icahn has proposed for Forest Laboratories Inc.’s board are conflicted and lack necessary industry experience, said Frank Perier, the drugmaker’s chief financial officer.
Vivus Inc., the drugmaker that’s battling its largest investor for board control, told investors and analysts at a meeting today that it’s open to discussing a potential settlement with dissident shareholder First Manhattan Co., according to two people at the event.
Vivus Inc.’s largest stockholder, First Manhattan Co., said three of the nine directors it nominated to the drugmaker’s board are being recommended for approval by proxy adviser Institutional Shareholder Services.