Why Ariad Pharma Is Up Today

Ariad Pharmaceuticals (NASDAQ:ARIA) rose 8.64 percent today after a report said three international pharmaceutical groups are interested in purchasing a controlling stake in the company, The Street reported.
As quoted in the market news:

The Daily Mail reported that multiple industry majors have been circling Ariad since the Food and Drug Administration green-lit Ariad’s Ponatinib, a leukemia treatment. The report cited rumors that three international pharma groups, including Eli Lilly (LLY_), have made “friendly approaches” to Ariad and are prepared to offer as much as $20 a share to gain control. Other companies mentioned in the report include GlaxoSmithKline (GSK_) and Shire.

Read the full article by The Street