Eli Lilly bids $6.5 billion for ImClone
Posted on October 6th, 2008 by Carl Vanderpal
BOSTON/PHILADELPHIA (Reuters) - Eli Lilly and Co has agreed to acquire ImClone Systems Inc for $6.5 billion, outbidding Bristol-Myers Squibb Co and potentially bringing to a close one of the most colorful corporate sagas in biotech history. The acquisition would give Lilly ImClone's cancer drug Erbitux and five experimental products that, if successful, could help offset the impact of generic competition to Lilly's blockbuster schizophrenia drug Zyprexa. The deal would also mark the end of
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