European agency backs continued use of leukemia drug ponatinib

By Reuters Staff

(Reuters) - Ariad Pharmaceuticals Inc said European regulators recommended the continued use of its leukemia drug ponatinib (Iclusig).

Sales of the drug in the U.S. were suspended in late October due to safety concerns.

The European Medicine Agency's Committee for Medicinal Products for Human Use (CHMP) recommended continued use of the drug on Friday. European Commission normally endorses the advisory committee within a couple of months.

The EMA recommended that Iclusig should not be used in patients with a history of heart attack or stroke, unless the potential benefits of treatment outweigh the risks, and patients' heart status should be assessed before starting treatment with the drug.

The news comes as a fresh lease of life for the company, whose market value fell drastically after an FDA investigation found that a significant number of patients taking Iclusig developed life-threatening blood clots or narrowing of the veins.

After suspending the sale of the drug due to the concerns, Ariad also said it would cut 40% of its workforce to reduce operating expenses.

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