Approved drugs generally pose less business risk than candidates still in development. But as two leading biotech firms have discovered with their only marketed products, things can still go wrong, and with serious consequences. Ariad Pharmaceuticals says it will eliminate about 40% of its U.S. staff positions, or 160 employees. The cuts follow the firm’s decision last month to suspend U.S. sales
... [Show full abstract] of the leukemia drug Iclusig after concerns arose about its side effects. FDA approved Iclusig late last year to treat two rare cancers under its priority review program. European regulators followed suit in July. The Cambridge, Mass.-based company hopes to restart U.S. sales after revising prescribing information. Similarly, Seattle-based Dendreon is cutting about 150 jobs to reduce expenses by $125 million. It will have about 820 employees, down from a peak of 2,000 a few years ago. The company has been shedding jobs since 2011 as it struggles ...