ARIAD Pharmaceuticals, Inc. ARIA today acknowledged the receipt of a Congressional letter and reaffirmed its commitment to discovering and developing treatments for patients with rare cancers with the following statement:
ARIAD is a small, research-driven biotechnology company. Its mission is the discovery, development and delivery of highly innovative treatments for patients with rare cancers, including those with no other treatment options available today. The Company applies its deep in-house expertise and makes significant investments in research and development (R&D) to advance breakthrough treatments for patients.
The Company recognizes the high cost of innovative oncology drugs and believes in the importance and efficacy of its products. Importantly, to achieve its mission, ARIAD has invested more than $1.3 billion in R&D and accumulated losses of approximately $1.4 billion since the Company was founded, which have not been recovered. In 2015, ARIAD generated $119 million in total revenue and invested $171 million, or 143% of revenue, in R&D. After years of risk-taking and research, the Company has brought its first product to market serving a very small and seriously ill group of cancer patients. ARIAD remains fully committed to developing critical therapies for unserved and underserved small patient populations suffering from rare cancers.
The Company has received a letter from Rep. Cummings and Sen. Sanders requesting information and plans to respond to their request.
Forward-Looking Statements
This press release contains
forward-looking statements. Any statements contained herein which do not
describe historical facts, including, but not limited to, statements
regarding: our mission, our planned investments in R&D, and our
commitment to our patients, are forward-looking statements which are
based on management's expectations and are subject to certain factors,
risks and uncertainties that may cause actual results, outcome of
events, timing and performance to differ materially from those expressed
or implied by such statements. These factors, risks and uncertainties
include, but are not limited to, our ability to successfully
commercialize and generate profits from sales of our products; our
ability to meet anticipated clinical trial commencement, enrollment and
completion dates and regulatory filing dates for our products and
product candidates and to move new development candidates into the
clinic; our ability to execute on our key corporate initiatives;
regulatory developments and safety issues, including difficulties or
delays in obtaining regulatory and pricing and reimbursement approvals
to market our products; competition from alternative therapies; our
reliance on the performance of third-party manufacturers and specialty
pharmacies or our collaborators for the supply and distribution of our
products and product candidates; the occurrence of adverse safety events
with our products and product candidates; the costs associated with our
research, development, manufacturing, commercialization and other
activities; the conduct, timing and results of preclinical and clinical
studies of our products and product candidates, including that
preclinical data and early-stage clinical data may not be replicated in
later-stage clinical studies; the adequacy of our capital resources and
the availability of additional funding; the ability to satisfy our
contractual obligations, including under our leases, convertible debt
and royalty financing agreements; patent protection and third-party
intellectual property claims; litigation; our operations in foreign
countries; risks related to key employees, markets, economic conditions,
health care reform, prices and reimbursement rates; and other risk
factors detailed in our public filings with the U.S. Securities and
Exchange Commission, including our most recent Annual Report on Form
10-K and subsequent Quarterly Reports on Form 10-Q. Except as otherwise
noted, these forward-looking statements speak only as of the date of
this press release and we undertake no obligation to update or revise
any of these statements to reflect events or circumstances occurring
after this press release. We caution investors not to place considerable
reliance on the forward-looking statements contained in this press
release.
About ARIAD
ARIAD Pharmaceuticals, Inc., headquartered
in Cambridge, Massachusetts is focused on discovering, developing and
commercializing precision therapies for patients with rare cancers.
ARIAD is working on new medicines to advance the treatment of rare forms
of chronic and acute leukemia, lung cancer and other rare cancers. ARIAD
utilizes computational and structural approaches to design
small-molecule drugs that overcome resistance to existing cancer
medicines. For additional information, visit http://www.ariad.com or
follow ARIAD on Twitter (@ARIADPharm).
View source version on businesswire.com: http://www.businesswire.com/news/home/20161020006573/en/
ARIAD Pharmaceuticals, Inc.
For Investors
Jennifer
Robinson, 617-621-2286
Jennifer.Robinson@ariad.com
For
Media
Liza Heapes, 617-621-2315
Liza.heapes@ariad.com
Or
Joele
Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Jed
Repko, 212-355-4449
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