Exhibit 99.1

(ARIAD LOGO)                                                        NEWS RELEASE


FOR IMMEDIATE RELEASE                   CONTACT:   Edward Fitzgerald (Investors)
                                                   (617) 621-2345

                 ARIAD ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

CAMBRIDGE, MA, OCTOBER 19, 2006 -- ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA)
announced today that it proposes to offer 3,112,945 shares of its common stock
pursuant to its effective shelf registration statements. The underwriter will be
granted an option to purchase up to an additional 466,942 shares of ARIAD's
common stock to cover over-allotments. All of the shares in the offering are
being sold by ARIAD. Credit Suisse Securities (USA) LLC is acting as sole
underwriter for the offering.

Additional information and details with respect to the offering will be included
in preliminary prospectus supplements and accompanying prospectuses that will be
filed with the SEC. When available, copies of the preliminary prospectus
supplements and accompanying prospectuses may be obtained from Credit Suisse,
Prospectus Department, One Madison Avenue, New York, New York 10010-3629
(212-325-2580).

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.

ARIAD is engaged in the discovery and development of breakthrough medicines to
treat cancer by regulating cell signaling with small molecules.

Some of the matters discussed herein are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements
are identified by the use of words such as "may", "anticipate," "estimate,"
"expect," "project," "intend," "plan," "believe," and other words and terms of
similar meaning in connection with any discussion of future operating or
financial performance. Such statements, including those related to the offer to
sell shares of common stock described in this press release, are based on
management's expectations and are subject to certain factors, risks and
uncertainties that may cause actual results, outcome of events, timing and
performance to differ materially from those expressed or implied by such
forward-looking statements. These risks include, but are not limited to, risks
and uncertainties regarding our ability to accurately estimate the timing and
actual R&D expenses and other costs associated with the preclinical and clinical
development and manufacture of our product candidates, the adequacy of our
capital resources and the availability of additional funding, risks and
uncertainties regarding our ability to manufacture or have manufactured our
product candidates on a commercial scale, risks and uncertainties regarding our
ability to successfully recruit centers, enroll patients and conduct clinical
studies of product candidates, risks and uncertainties that clinical trial
results at any phase of development may be adverse or may not be predictive of
future results or lead to regulatory approval of any of our or any


partner's product candidates, risks and uncertainties of third-party
intellectual property claims relating to our and any partner's product
candidates, and risks and uncertainties relating to regulatory oversight, the
timing, scope, cost and outcome of legal and patent office proceedings,
litigation, prosecution and re-examination proceedings concerning our
NF-(kappa)B patent portfolio, future capital needs, key employees, dependence on
collaborators and manufacturers, markets, economic conditions, products,
services, prices, reimbursement rates, competition and other factors detailed in
the Company's public filings with the Securities and Exchange Commission,
including ARIAD's Annual Report on Form 10-K for the fiscal year ended December
31, 2005. The information contained in this document is believed to be current
as of the date of original issue. The Company does not intend to update any of
the forward-looking statements after the date of this document to conform these
statements to actual results or to changes in the Company's expectations, except
as required by law.

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