Article: Waksal Given Seven Years As ImClone Nears Erbitux Filing.

Washington Editor

By the time former ImClone Systems Inc. CEO Samuel Waksal gets out of prison, the cancer drug he helped develop could be on the market.

While a U.S. District Court judge in Manhattan was sentencing Waksal to seven years and three months Tuesday on charges related to insider trading, securities fraud and bank fraud, ImClone and its partner, Bristol-Myers Squibb Co., were no doubt working on the biologics license application for Erbitux (cetuximab) in colorectal cancer.

Waksal, a 55-year-old immunologist, must report to prison July 2. He also has been ordered to pay a little more than $4 million in fines and restitution.

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