Lilly triumphs in battle for ImClone
This article was originally published in Scrip
Executive Summary
The 10-week battle for ImClone Systemsis drawing to a close after the biopharmaceutical firm acceptedLilly's $6.5 billion all-cash offer. The deal strengthens Lilly's oncology pipeline and marks a personal victory for ImClone chairman Carl Icahn, who turned down two earlier bids fromBristol-Myers Squibb.