ARIAD to Cut 40% of US Staff Positions

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- ARIAD Pharmaceuticals ARIA today announced that it is reducing approximately 40 percent of its staff positions in the United States following its decision to temporarily suspend the marketing and commercial distribution of Iclusig® (ponatinib) in the U.S. The reduction in U.S. staff includes positions in all major departments. This reduction in force is part of a broad program taken by ARIAD to significantly reduce its corporate operating expenses and extend its cash position. ARIAD will share details of this program when it reports third quarter financial results on Tuesday, November 12. ARIAD expects the workforce reduction to be completed by year-end and will yield pre-tax savings of approximately $26 million in 2014. See full press release