1. In Vivo
  2. >>Archive

ImClone and Bristol: The Acquisition Fight Focuses on the Erbitux Successor

ImClone chairman Carl Icahn wants Bristol-Myers Squibb to pay a lot more in order to acquire the developer of blockbuster cancer drug Erbitux. His argument: there's a lot more to ImClone than Erbitux, namely, a competitive follow-on. Bristol thinks it's already got the rights to that compound; Icahn apparently disagrees (and indeed Amgen wriggled out of a similar dispute over a follow-on with J&J). But a close reading of the Bristol/ImClone contract tends to agree with Bristol.

Pity Carl Icahn. The biotech industry’s best-known activist shareholder and chairman of ImClone Systems Inc. saw the value of his holdings plummet following the Food & Drug Administration’s 2001 rejection of its lead cancer drug, the EGFR inhibitor cetuximab (Erbitux), and the succeeding insider-trading scandal that sent CEO Sam Waksal to jail. He then saw his shares climb, once Erbitux reached the market, to historic highs, past $85 a share–before plummeting again in the summer of 2004 when sales numbers fell below expectations.

And the stock never really recovered. Although Erbitux did well enough commercially, ImClone investors could see no other real exit...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Archive

Final Chance To Have Your Say: Take Our Reader Survey This Week

 
• By Eleanor Malone

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

Early Development Deals: Ipsen's Strategy For Biomarker-Driven Success

 
• By Eliza Slawther

Mary Jane Hinrichs, Ipsen’s head of early development, talks to In Vivo about getting ahead of the competition by securing deals for candidates before they enter Phase I trials.   

Shape Our Content: Take The Reader Survey

 
• By Eleanor Malone

Editor’s note: We are conducting a survey to better understand our subscribers’ content and delivery needs. If there are any changes you’d like to see in the coverage topics, content format or the method in which you receive and access In Vivo, or if you love it how it is, now is the time to have your voice heard.

In Partnership with Cerba Research

Prioritizing Safety in CAR-T Therapy: Patient Monitoring with Cerba Research’s Testing Portfolio

The cell and gene therapy (CGT) clinical trial landscape in general and CAR-T cell clinical trials in particular are a special focus for the FDA, EMA, and other regulatory agencies. The whole industry is thus aware of the recent FDA safety investigation and requirements for labeling CAR therapy products.

More from In Vivo

Wide Of The Mark: ‘The Worst EU Medtech Predictions Have Not Come True’

 
• By Ashley Yeo

Jana Grieb, European regulatory and market access legal expert at McDermott Will & Emery, explains why the healthtech and pharma industries are warming to the new EU health commissioner as he faces calls to make the MDR more “user friendly.”

This Belgian Biotech’s Drug Cocktail Could Help Reverse Muscle Aging

 
• By Jo Shorthouse

While big pharma pours billions into creating new anti-aging molecules, a Belgian startup has taken a different path: combining existing safe drugs with AI precision. The early results suggest it might be onto something revolutionary.

Rising Leaders 2025: Doxie Jordan, From UNC Graduate To Global Market Strategist

 
• By Jo Shorthouse

Bristol Myers Squibb executive Doxie Jordan discusses his path to global commercial leadership and the principles guiding pharmaceutical market strategy