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Article: Icahn Calls Bristol-Myers's $4.3 Billion Offer Too Low; ImClone Chairman Considers Splitting Company, Saying Experimental Cancer Drugs 'Undervalued'
- Article from:
- The Washington Post
- Article date:
- August 5, 2008
- Author:
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Copyright informationThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Carl C. Icahn, ImClone Systems chairman and second-biggest
shareholder, said yesterday that Bristol-Myers Squibb's $4.3 billion
buyout offer was too low and the company may split itself to boost
its value.
The bid "greatly undervalues" ImClone's lineup of experimental
cancer drugs, Icahn said in a statement issued by ImClone. The
drugmaker is investigating whether a Bristol-Myers representative on
its board shared confidential information about its experimental
drugs and its plans to split off its only approved product, the
cancer drug Erbitux, as a separate business, according to the
statement.
Bristol already owns 16.6 percent of ImClone, and the companies
share the profits of Erbitux, ...
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Article: Repligen Wins Summary Judgment Against ImClone in Erbitux(R) Case.
PR Newswire;
July 31, 2006 ;
700+ words
...ImClone's Patent Exhaustion Defense Rejected by the Court WALTHAM...Massachusetts Institute of Technology (MIT) and rejected ImClone Systems Incorporated's defense of patent exhaustion in...Erbitux(R). In their complaint, Repligen and MIT allege that ImClone's production of Erbitux(R) infringes U.S. patent ...
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