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The Boston Globe

Business

Cambridge-based Ariad reportedly a takeover target

Troubled drug firm’s shares lifted by rumors

Shares of Ariad Pharmaceuticals Inc. jumped more than 12 percent on takeover fever Thursday after a British news website reported several global pharmaceutical giants had made overtures to the troubled Cambridge maker of a potent leukemia drug.

Ariad relaunched its drug, called Iclusig, last week after regulators pressed the company to halt US sales in October amid mounting safety concerns. Under an agreement with the Food and Drug Administration, chief executive Harvey Berger said the treatment would initially be sold to a smaller subset of leukemia patients for whom no other drugs are effective.

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