Ariad suspends sales of cancer pill Iclusig

Ariad Pharmaceuticals is suspending sales of its leukemia drug Iclusig because of concerns that patients could suffer from blood clots.

The Cambridge, Mass., company says the Food and Drug Administration asked it to stop marketing the drug Wednesday afternoon. The company said Thursday that it is negotiating with the FDA about changes to prescribing information and new ways to manage the risks associated with Iclusig. Ariad said it wants to resume marketing the drug.

Shares of Ariad Pharmaceuticals Inc. have lost three-quarters of their value since concerns about side effects were disclosed earlier this month. The stock slid 43 percent to $2.24 in premarket trading Thursday.

In December the FDA approved Iclusig as a treatment for two rare types of leukemia.