Dallas, Texas 08/08/2014 (FINANCIALSTRENDS) – There have been reports of attempts at acquisition of Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) by major pharma companies like Eli Lilly (NYSE:LLY) and GlaxoSmithKline (NYSE:GSK) earlier. Now, JazzPharmaceuticals (NASDAQ:JAZZ) has also expressed interest for the purchase. Hugh M. Cole has been appointed for the post of Senior Vice President as well as the Chief Business Officer of this global oncology company, according to the announcement by the company on April 2. Meanwhile, more than 4000 shares of Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) was sold by the Senior Vice President Maria Cantor.
Acquisition proposed at $20
The latest proposal by Jazz Pharmaceuticals (NASDAQ:JAZZ) offers around $20 per share of Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) which is almost 150% higher than the current trading range of the stock. The major cause of interest for this acquisition is the drug used for treatment of leukemia called Iclusig. But the $3.7 billion acquisition deal has not been done yet and the experts say that the possibilities are less, albeit not impossible. Incidentally, the deal amount is almost half the market cap of Jazz Pharmaceuticals (NASDAQ:JAZZ).
New SVP and CBO announced
The appointment of Hugh M. Cole as the Senior Vice President as well as Chief Business Officer of Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) has been announced. He would be reporting to Chairman as well as CEO Harvey J. Berger. Cole, who has more than 25 years of experience in the pharma industry, would take up the strategic planning as well as the business development of the company across globe.
Shares sold by SVP
The SVP Maria Cantor has sold around 4,250 shares of Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) at an average price of $8.21, amounting to a total value of $34,892.50 on April 2nd. She now owns 88,174 worth around $723,909.