Insider Trading Nov 9, 2009
The homemaking guru spent five months in prison in 2004 after a series of events triggered by her sale of $228,000 in shares of biomedical firm ImClone Systems, the day before its value plunged 15. Thanks to a 1997 Supreme Court ruling, even those who lack a connection to a company cannot trade on inside information if they know it is meant to remain confidential. (Time.com)
Eli Lilly CEO banking on new drug pipeline Nov 1, 2009
Q. Lilly purchased biotech ImClone Systems a year ago for $6. 5 billion. (Yahoo News -- Pharmaceutical Industry News)
Eli Lilly CEO banking on new drug pipeline Oct 23, 2009
Q. Lilly purchased biotech ImClone Systems a year ago for $6. 5 billion. (Yahoo News -- Pharmaceutical Industry News)
Lilly posts 3Q profit; analysts doubt future sales Oct 22, 2009
5 billion last year to buy biotech ImClone Systems for its cancer treatment Erbitux and several other drugs in its pipeline. Lilly officials said Wednesday they wouldn't rule out partnerships or the purchase of additional drugs to complement their holdings. (Yahoo News -- Pharmaceutical Industry News)
GE launches $250 million health care tech fund Oct 22, 2009
The company has launched only one drug since 2005, but it acquired dozens of potential cancer treatments last year by buying ImClone Systems. Lilly is also looking to cut costs, and in September, it unveiled a plan to reduce its spending by $1 billion per year. (Yahoo News -- Pharmaceutical Industry News)
Lilly to cut 14 pct of staff, trim $1B in costs Sep 17, 2009
But the company bought cancer drug maker ImClone Systems for $6 billion last year to acquire the cancer drug Erbitux and help balance the revenue it would lose when Zyprexa, Cymbalta, Humalog and Gemzar faced generic competition. The products were Lilly's four best-sellers in 2008, with combined revenue of $10. (Yahoo News -- Pharmaceutical Industry News)
Dyax receives $1.5 million payment Aug 27, 2009
The payment, which comes from Eli Lilly unit ImClone Systems, comes as the company begins human studies on IMC-EB10. Also, Dyax said it will receive an undisclosed payment from partner AstraZeneca as that company moves a potential cancer drug into early-stage studies. (Yahoo News -- Pharmaceutical Industry News)
Revisiting the ImClone Systems Case Aug 25, 2009
Martha Stewart was not only America's homemaking diva, but she also was a major ImClone Systems stockbroker ... Samuel Waksal, Stewart s friend, ran ImClone Systems. (Suite101.com)
CIT's Collapse May Throw Carl Icahn's Stake in American Railcar Off Track Aug 12, 2009
He turned a profit of $418 million on a $196 million investment in ImClone Systems Inc., the biopharmaceutical company at the center of s obstruction-of-justice charges in 2004. Hes already planning how in Houdini style hes going to remove the handcuffs from his wrists, Stevens at MSCO said. (Bloomberg -- US)
Ex-Qwest Chief Nacchio May Get Reduced Jail Time Aug 1, 2009
Once a star on Wall Street, Nacchio became one of several corporate leaders convicted of financial crimes, including Tyco International's Dennis Kozlowski, WorldCom's Bernard Ebbers and ImClone Systems' Sam Waksal. 1. (ABC News -- Wire)
UBS, Jefferies Resolve Lawsuit Over Lorello's Alleged Health Group `Raid' Jul 11, 2009
3 billion purchase of ImClone Systems Inc. last year. The case is UBS Securities LLC v. Jefferies & Co., 09- 108820, New York State Supreme Court (Manhattan). (Bloomberg -- Europe)
Amylin: Icahn pushes for sale to Eli Lilly Apr 28, 2009
Last year Icahn brokered the sale of ImClone Systems Inc. to Lilly for more than $6 billion. He is also making a second attempt at overtaking the board of directors at Biogen idec Inc.. (Yahoo News -- Pharmaceutical Industry News)
Lilly 1Q profit rises on higher sales; stock falls Apr 28, 2009
Lilly and Amylin are partners on the twice-daily injectable diabetes treatment Byetta and a developing once-weekly version of the same drug called exenatide LAR. Last fall, Icahn brokered the sale of ImClone Systems Inc. to Lilly for more than $6 billion. Lilly spokesman Mark Taylor declined to comment on Icahn's plans. (Yahoo News -- Pharmaceutical Industry News)
Icahn says not looking for prompt Amylin sale Apr 28, 2009
No one has ever accused me of selling cheaply," Icahn wrote. Amylin shares closed at 10.80 on Nasdaq on Tuesday, up 5.8 percent for the day. In a letter to Icahn made public in a filing with the U.S. Securities and Exchange Commission on Monday, Wilson said Amylin believes a sale right now would "dramatically undervalue" the company. Icahn is apparently in agreement. "I do not sell cheaply and would certainly not recommend selling Amylin unless we were offered at least over 30 per share, at... (Yahoo News -- Pharmaceutical Industry News)
Report: Swiss Drugmaker Nycomed Shopping Itself Mar 24, 2009
57 billion would be more than double what Eli Lilly aid for ImClone Systems Inc. last fall. Nycomed makes almost half its sales to European markets, including a strong presence in eastern Europe. (ABC News -- Wire)
Pfizer May Pay Lower Interest Rates Than Roche on Bonds to Fund Wyeth Deal Mar 17, 2009
4 billion of notes to help repay commercial paper borrowings related to the companys buyout of ImClone Systems Inc., according to a regulatory filing. One of the big issues with Pfizer is the patent cliff with Lipitor in 2011, said , a principal in Malvern, Pennsylvania, at Vanguard Group, which has $488 billion in fixed- income assets under management. (Bloomberg -- US)
White collars, hard time Mar 13, 2009
Sam Waksal, ImClone Systems founder, sentenced to seven years in prison in 2003 in insider trading scandal involving ImClone drug Erbitux. Kenneth Lay, founder of Enron Corp., convicted of fraud, conspiracy and lying to banks in May 2006. (Globe and Mail -- Business)
`Virgin' North Dakota Draws Billionaire Icahn in Corporate Raider Quest Feb 21, 2009
Icahn has had success in the biotechnology sector, most recently with ImClone Systems Inc., in which he doubled his holdings in 2006, engineered his election to the board and pushed for a sale. Eli Lilly & Co. bought ImClone last November for $6. (Bloomberg)
Drugmaker earnings show continuing cost pressure Feb 9, 2009
Lilly said Thursday it swung to a fourth-quarter loss on charges from buying cancer-drug maker ImClone Systems Inc. ... 73 billion charge for Lilly's purchase of ImClone Systems Inc. were $1. (Yahoo News -- Pharmaceutical Industry News)
Eli Lilly reports 4Q loss but beats forecasts Feb 9, 2009
73 billion charge for the purchase last fall of cancer-drug maker ImClone Systems Inc. The company lost $3. 63 billion, or $3. (Yahoo News -- Pharmaceutical Industry News)
Lilly profit falls on ImClone charges Feb 9, 2009
NEW YORK (Reuters) Eli Lilly and Co (LLY.N) reported flat fourth-quarter sales on Thursday and said earnings fell on charges related to its acquisition late last year of biotechnology company ImClone Systems Inc.. The Indianapolis-based drugmaker posted a loss of 3. (Yahoo News -- Pharmaceutical Industry News)
Plump pension awaits former Eli Lilly leader Feb 9, 2009
5 billion acquisition of ImClone Systems Inc.. Its adjusted profit, which excludes one-time items like the acquisition, rose to $4. (Yahoo News -- Pharmaceutical Industry News)
Researchers Zero in on Gastrointestinal Cancers Feb 7, 2009
It was funded by ImClone Systems Inc., which makes Erbitux. A second set of researchers reported that people with specific mutations in the epidermal growth factor (EGF) gene and GERD (gastroesophageal reflux disease) have an increased risk of cancer of the esophagus. (MEDLINEplus)
