Summer Street not giving up on Ariad's Iclusig despite suspension

|By:, SA News Editor

With shares of Ariad Pharmaceuticals (ARIA -42%) trading sharply lower on news of a marketing and commercial distribution suspension for Iclusig, Summer Street's Carol Werther is taking a glass is half-full approach.

"We believe that ARIA will ultimately re-define the label and re-introduce the product with a REMS," Werther says, adding that Summer Street is "more positively inclined ... on ARIA-FDA taking the situation head on, as the drug has an important place in salvage CML."