While acknowledging the letters, Ariad reiterated its commitment to discovering, as well as, developing drugs for the treatment of rare cancers. In a statement, the company said, "The Company applies its deep in-house expertise and makes significant investments in research and development (R&D) to advance breakthrough treatments for patients."
Ariad disclosed that it recognized the high cost of drugs and pointed out that it invested over $1.3 billion in research and development. The company suffered accumulated losses of about $1.4 billion since its founding and has yet to recover them.
The drug maker cited that it invested 143 percent of revenue in R&D in 2015. While the company generated revenue of $119 million, its investment in R&D was $171 million.
At last check, Ariad was down 2.5 percent at $10.51.
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