March 13, 2017 / 1:03 PM / 9 months ago

Activist investor Sarissa targets three Innoviva board seats

March 13 (Reuters) - Activist investor Sarissa Capital Management LP said on Monday it intends to nominate only three candidates for election to the board of drug company Innoviva Inc.

Innoviva said last week that Sarissa Capital had nominated four directors to replace a majority of the drug company’s board.

Sarissa Capital is a hedge fund run by Alex Denner, billionaire investor Carl Icahn’s former healthcare lieutenant. The fund has a stake of 2.72 percent in Innoviva, according to Reuters data. (Reporting by Divya Grover in Bengaluru; Editing by Savio D‘Souza)

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