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Market Movers

Acquisition rumors drive up Ariad shares

Ariad can sell Iclusig again, but only to a small segment of patients whose treatment options are limited.

Boston Globe/File 2011

Ariad can sell Iclusig again, but only to a small segment of patients whose treatment options are limited.

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Ariad Pharmaceuticals Inc. stock soared on speculation that the Cambridge biotech is a takeover target. On Thursday and Friday, traders reacted to a report by the Mail, a British news website, that Eli Lilly and Co., GlaxoSmithKline PLC, and Shire PLC made overtures about acquiring Ariad. None of the drug makers would comment. Ariad resumed US sales of its leukemia drug Iclusig last week after suspending sales in October when the FDA issued a safety alert.

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