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Article: ImClone, Bristol settle feud over marketing cancer drug
- Article from:
- AP Worldstream
- Article date:
- March 6, 2002
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: NEW YORK
ImClone Systems Inc. has settled its public feud with Bristol-Myers
Squibb Co. over the handling of a dlrs 2 billion deal to co-market
a highly touted experimental cancer drug.
ImClone agreed Tuesday to accept less money and revise its profit-
sharing agreement with the drug titan, which was also given management
of a key committee assigned to shepherd the drug Erbitux through the
regulatory process.
ImClone agreed to accept dlrs 100 million less than the dlrs 800 million
the drug titan owed the small New York-based biotechnology company
to share Erbitux's future profits once approved by the Food and Drug
Administration.
Bristol, also based in New ...