Eli Lilly in Talks to Acquire ImClone for $6.1 Billion
Eli Lilly (Indianapolis, In) is the mystery bidder "in advanced talks" to acquire ImClone Systems (New York, NY).
Eli Lilly (Indianapolis, In) is the mystery bidder "in advanced talks" to acquire ImClone Systems (New York, NY), according to a report today in Wall Street Journal’s Health blog. The deal, yet to be confirmed by either company, would value ImClone at $6.1 billion. Eli Lilly’s offer, at $70 a share, would be higher than the $4.5 billion all-cash offer that Bristol-Myers Squibb (BMS, New York, NY) made for ImClone in September ($60 a share, later raised to $62).
ImClone's Chairman, Carl Icahn, said in September that he had held talks with an unidentified "large pharmaceutical company" about a potential $70-a-share bid, after dismissing BMS’s offer as "absurd." BMS has already raised its bid once and has said that its bid is fair.
In a public statement, ImClone Chairman Carl Icahn said that the mystery bidder for ImClone has made a proposal not subject to financing or further due diligence. Negotiations are reportedly underway and the company has requested that ImClone not reveal the bidder's name until negotiations are complete.
For more information on the BMS offer, see BioPharm’s previous news coverage.
The Solution Lies with SOLBIOTE™: Achieving Sustainability, a Growing Focus in Biopharma
October 28th 2024The nexus between biopharmaceuticals and sustainability is seemingly far apart, however, it is increasingly recognized as an inevitable challenge. It is encouraged to take a sustainable approach to reducing the environmental impact of the production and supply of medicines while improving people's health; delivering the well-being of people and the planet. Yosuke Shimojo (Technical Value Support Section Manager, Nagase Viita) will unveil how SOLBIOTE™, a portfolio of injectable-grade saccharide excipients, would be a key for the biopharmaceutical development and achieving sustainability for a better future of the industry.
