Quoted from http://www.reuters.com/article/2013/10/31/us-ariad-drug-suspension-idUSBRE99U0H620131031
Ariad suspends sales of blood cancer drug, shares sink
(Reuters) - Ariad Pharmaceuticals Inc said it would suspend sales of its blood cancer drug Iclusig, barely two weeks after it stopped an ongoing trial of the drug due to safety concerns.
The development, which drove down Ariad shares 31 percent before the bell, is a major setback for the company after it won an accelerated approval for the drug from the U.S. Food and Drug Administration last December.
An accelerated approval is granted based on promising data from early trials. But the process still requires the company to conduct further studies to prove the drug is as effective as initially thought.
Iclusig is used to treat two rare blood cancers.