After resistance, U.S.-based Isis Pharmaceuticals changes its name

NEW YORK -- Isis Pharmaceuticals Inc., which shares a name with the Islamic State extremist group, has changed its name to Ionis Pharmaceuticals after resisting to do so for some time.

See Full Article

The developer's old name was a distraction, said Dr. Amy Williford, the company's associate director of corporate communications. Every time the Islamic State was in the news, the drugmaker would be flooded with questions from the media, she said. Islamic State, commonly known by its acronym ISIS, has claimed responsibility for several violent attacks around the world, including the gun and bomb massacres in Paris last month.

"We wanted to have a good feeling associated with the company," said Williford.

Employee safety was also a concern. "Our scientists travel all over the world," she said

The decision is a reversal for the company, which said last year that it would not change its name. "They can easily distinguish between us and a Middle Eastern terrorist group," Vice-President of Corporate Communications D. Wade Walke told The Associated Press at the time.

On Friday, Williford said that the company discussed a name change for about two years.

"This is a long process," she said, adding that it needed to change contracts and legal documents.

Next week, the company will also switch its ticker symbol to "IONS" from "ISIS." It will also have a new website, at ionispharma.com, and Ionis will have a slightly different pyramid logo.

When it was founded nearly 30 years ago, the company named itself after Egyptian healing goddess Isis. The Carlsbad, California-based company develops drugs for rare diseases.



Advertisements

Latest Economic News

  • Uber Canada hits back at Liberal plan to charge tax on rides

    Economic CBC News
    Uber Canada says it wants the federal government to hit the brakes on plans to charge GST/HST on ride-hailing fares. Finance Minister Bill Morneau unveiled the proposed tax in Wednesday's budget. An executive with Uber's Canadian operations on Thursday called it a "tax on innovation" that would hurt Uber drivers and users. Source
  • Uber decries new tax measures on ride-hailing announced in federal budget

    Economic CTV News
    TORONTO -- Uber is crying foul over new tax measures announced in the federal government budget that would see the company subject to the same sales tax rules applied to taxi drivers. The Liberal government's budget Wednesday included amending the definition of a taxi business to include ride-hailing services such as Uber and subject them to the same GST and HST rules as taxis. Source
  • Ontario piloting financial literacy classes

    Economic CTV News
    TORONTO -- Students in more than two dozen Ontario high schools are taking part in a pilot project aimed at teaching them financial skills necessary to succeed in the new global economy. The Liberal government says the project, which is underway in 28 schools, is part of its promise to improve financial literacy education. Source
  • Air Miles suspends redemption of Cash Miles in stores after some are 'stolen'

    Economic CTV News
    The loyalty program Air Miles says that it is temporarily suspending the ability to redeem “Cash Miles” in stores after the company realized “Cash Miles have been stolen” in a “small number of in-store Air Miles Cash transactions. Source
  • Enbridge spill east of Edmonton estimated at 10,000 litres of crude oil

    Economic CTV News
    CALGARY -- The National Energy Board says about 10,000 litres of light crude oil spilled Monday at a storage site east of Edmonton. Enbridge said that as of Tuesday morning, it had recovered almost all of the oil, which had leaked from a tank value in an industrial area of Strathcona County. Source
  • B.C. reports 64 pipeline benefit deals with 29 northern First Nations

    Economic CTV News
    VICTORIA - The British Columbia government says it has completed benefit agreements with 90 per cent of the eligible First Nations along four proposed natural gas pipeline routes across northern B.C. The Ministry of Aboriginal Relations says 64 natural gas pipeline benefits contracts have been signed with 29 First Nations and that most include initial financial payments worth over $1 million. Source
  • Disney CEO Bob Iger gets contact extension to July 2019

    Economic CTV News
    NEW YORK -- Disney CEO Bob Iger is getting a one-year contract extension. The Walt Disney Co. on Thursday ended any speculation that Iger would retire this year, extending contract to July 2, 2019. Source
  • Canada gets green light to join controversial China-led infrastructure bank

    Economic CTV News
    OTTAWA -- Canada has been approved to join a controversial new international infrastructure bank led by China. The Asian Infrastructure Investment Bank says Canada is among 13 applicants approved for membership in the bank by its board of governors. Source
  • Disney, Universal battle tax bills for Florida theme parks

    Economic CTV News
    ORLANDO, Fla. -- It takes a lot of land to accommodate Cinderella's castle, The Wizarding World of Harry Potter and Epcot's 11-country World Showcase -- and a hefty purse to pay the property taxes on it. Source
  • Mickey vs. the tax man: Disney, Universal fight tax bills

    Economic CTV News
    ORLANDO, Fla. -- It takes a lot of land to accommodate Cinderella's castle, The Wizarding World of Harry Potter and Epcot's 11-country World Showcase -- and a hefty purse to pay the property taxes on it. Source