Ariad's Potential Blockbuster Set for EU Debut

Ariad's FDA approved drug Iclusig looks set to gain EU approval.

Max Macaluso
Max Macaluso
Mar 22, 2013 at 4:50PM
Health Care

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.