Lilly Offers $70 per Share for ImClone in $6.5B Deal

October 2008
Bioworld Week;10/13/2008, Vol. 16 Issue 41, p1
The article reports on the merger agreement of Lilly & Co. Ltd. to offer $70 per share for ImClone System Inc. in a $6.5 billion deal. It mentions that the agreement is predicted to close late in the fourth quarter of 2008 or early in 2009 and would mark a triumphant victory for billionaire investor Carl Icahn, who took over as ImClone's chairman in 2006. This merger will allow Lilly to promote marketed cancer products including Gemzar or gemcitabine hydrochloric acid (HCL).


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