Elsewhere, Ariad Pharmaceuticals (ARIA - Get Report) entered into a non-exclusive license agreement with cardiovascular device company Icon Medical, to develop and commercialize drug-eluting stents that deliver Ariad's novel mTOR inhibitor, deforolimus, to prevent re-narrowing of arteries after interventions in which stents are used with balloon angioplasty.Icon is responsible for development and commercialization. Ariad is receiving an equity stake in Icon, up to $27 million in payments based on achievement of certain clinical, regulatory and commercial milestones for two products and royalties on all sales of Icon medical devices that deliver deforolimus. Additional terms weren't disclosed. Ariad shares edged down 12 cents, or 2.3%, to $5.01.
Thursday's Health Winners & Losers
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts