Biotech company Ariad Pharmaceuticals' (NASDAQ: ARIA) quest to gain EU approval for its Chronic Myeloid Leukemia (CML) drug Iclusig is almost complete. Today, the company announced that the EU's CHMP recommended that the European Commission officially approve the drug. Why then, given this good news, did Ariad's share price barely move following the announcement. Was the market largely expecting this approval? And looking longer term, who will Ariad have to compete with as it hopes to ramp up sales for its CML treatment? Health-care analyst Max Macaluso tackles these issues in the following video.
Motley Fool Returns
Stock Advisor S&P 500
Stock Advisor launched in February of 2002. Returns as of 02/26/2021.Join Stock Advisor
Cumulative Growth of a $10,000 Investment in Stock Advisor Calculated by Time-Weighted Return