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bristol meyers will seinen anteil an imclone verkaufen und verweigert weitere milestone payments an imclone. schätze das war`s dann. nachfolgend die meldung, die gerade bei bloomberg dazu herauskam. gruß wwid 02/08 08:31 Bristol-Myers Seeks Right to Sell ImClone Shares (Update2) By Angela Zimm New York, Feb. 8 (Bloomberg) -- Bristol-Myers Squibb Co. is demanding the right to sell its 20 percent stake in ImClone Systems Inc. immediately, and still keep a share of their stalled Erbitux cancer drug, a person familiar with the situation said. ImClone`s board may meet as early as Monday to consider Bristol-Myers`s ultimatum, which also includes canceling $800 million in payments to its partner, the person said. ImClone shares have lost more than 70 percent of their value since Dec. 28, when U.S. regulators refused the Erbitux application citing deficiencies in ImClone`s research. Bristol Myers, which agreed in November to pay as much as $2 billion for a stake in ImClone and a 40 percent share of any profit from Erbitux, wants to cut royalty payments by as much as half. The demands also call for the temporary removal of top ImClone executives. Management at ImClone is likely to reject the terms, analysts said. ``They told me that if Bristol-Myers walks they will proceed to develop (Erbitux) by themselves,`` said Michael Wood, an analyst at Lehman Brothers. ``They feel they signed a legal contract with Bristol-Myers, and that Bristol-Myers is not entitled to negotiations.`` ImClone shares fell as low as $13.70 in trading before the opening of U.S. markets, after closing yesterday at $14.87. ImClone wouldn`t comment. A Bristol-Myers spokeswoman referred to a statement released by the company earlier this week and refused to comment. The Bristol-Myers` statement earlier this week outlined the company`s demands in general terms. The company wouldn`t release a letter spelling out the demands in detail. Dolan, Goldhammer Met Bristol-Myers Chief Executive Peter Dolan presented the demands to ImClone Chairman Robert Goldhammer during a one-on-one meeting last Tuesday, and proposed Goldhammer run ImClone, the person said. According to the one-page letter, those demands include canceling the $800 million in milestone payments and reducing Bristol-Myers` royalty payments on potential sales of Erbitux to 25 percent to 35 percent from the originally agreed 60 percent, the person said. Bristol-Myers is also proposing an amendment that would allow it to sell the ImClone shares transferred to it under the agreement at any time, without restriction. The original agreement was subject to a three-year lock-up to prevent Bristol-Myers from selling its shares immediately, ImClone Chief Executive Samuel Waksal told investors on a conference call in September. Share of Profit If Bristol-Myers ends the ImClone pact before the FDA accepts a new application, the drugmaker wants 10 percent of any profits from Erbitux. Bristol-Myers wants 25 percent if the agreement is ended after the FDA accepts an application, the person said. Bristol-Myers` proposal also calls for the removal of ImClone CEO Waksal and his brother, Harlan Waksal, chief operating officer, until Erbitux is approved, the person said. ImClone had said previously it expected Erbitux`s approval in mid-2002. The FDA will probably require additional studies of Erbitux, and that may delay approval until at least 2003, some investors and analysts have said. The House Energy and Commerce Committee started a probe last month to find out whether ImClone hid flaws in company research from investors and cancer patients. The company is also under investigation by the Securities and Exchange Commission and the Justice Department. |
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| aus der Diskussion: | imclone - auf in die nächste runde |
| Autor (Datum des Eintrages): | wasweissichdenn (08.02.02 15:02:07) |
| Beitrag: | 2 von 2 (ID:5544388) |
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