Biotech Values

[DewDiligence]

Sarissa Capital seeks to oust ARIA CEO, Harvey Berger:

http://www.cnbc.com/id/102422005

Activist hedge fund Sarissa Capital, which won a seat on Ariad Pharmaceuticals' board last year, is seeking to replace the company's chief executive and may mount a proxy fight in the next few weeks, according to a person familiar with the hedge fund's plans.

Sarissa is the largest shareholder of Ariad, with 6.9 percent of the stock, or about 12.9 million shares, according to FactSet. The hedge fund is run by Alex Denner, formerly Carl Icahn's head of biotech investing, and Richard Mulligan, a Harvard geneticist who worked with Denner and Icahn on several investments.