Bristol Myers Squibb Co. (BMY), Ariad Pharmaceuticals, Inc. (ARIA): ASCO Investment Ideas

Like Exelixis, Inc. (NASDAQ:EXEL), Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) wants to expand the use of Iclusig, its treatment for patients with chronic myeloid leukemia, or CML and Philadelphia chromosome positive acute lymphoblastic leukemia, or Ph+ ALL, who have failed or can’t tolerate other therapies .

In several presentations at ASCO, investors will get to see data testing Iclusig in first-line setting, including an open-label study comparing it to Novartis AG (ADR) (NYSE:NVS)‘s Gleevec in newly diagnosed CML patients and in combination with chemotherapy as a first-line treatment for Ph+ ALL. Grabbing just a portion of Gleevec’s blockbuster sales would help justify Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s valuation.

Investment ideas — stressing the word “idea”
With ASCO going over the weekend, it’s easy to get worked up ready to hit the buy button on Monday morning. While there will likely be some stocks that jump at the open, investors should exert some restraint. ASCO pops often come back to earth after the fanfare subsides.

The article ASCO Investment Ideas originally appeared on Fool.com and is written by Brian Orelli.

Fool contributor Brian Orelli has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Exelixis.

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