ImClone Board Opposes Bristol-Myers Offer
Biotechnology firm ImClone has responded to the offer that it received from Bristol-Myers Squibb for a buyout, saying it would review the deal but its initial view is that the bid is much too low.
Biotechnology firm ImClone (New York, NY) responded yesterday to the offer that it received last week from Bristol-Myers Squibb (BMS, New York, NY) for a buyout, saying it would review the deal but its initial view is that the bid is much too low.
The statement issued by ImClone also noted its board of directors has been discussing the possibility of separating its Erbutix business from its other pipeline businesses to maximize the value of the company.
Carl C. Icahn, chairman of the board, said that ImClone is investigating whether BMS had access to confidential information about its pipeline through the BMS designee who is a member of the ImClone board. Icahn pointed out that ImClone has an antibody, IMC-11F8, under development which, if ultimately approved for sale, might have a significant competitive effect on Erbitux and that BMS may have no rights to market that product under its agreements with ImClone.
ImClone also stated that Icahn advised the board that, in his capacity as a large stockholder, he is opposed to the BMS offer because he believes that it greatly undervalues the company. Other large stockholders are also opposing the BMS proposal
On July 31, BMS had proposed to acquire its cancer drug partner ImClone Systems in an all-cash deal worth around $4.5 billion.
For more information on the BMS offer, see BioPharm's previous news coverage.
Drug Shortages and Complying with FDA’s 21 CFR 211.110 Guidance
April 2nd 2025Susan J. Schniepp, distinguished fellow at Regulatory Compliance Associates, and Rona LeBlanc-Rivera, PhD, principal consultant, Regulatory Affairs at Regulatory Compliance Associates, answer some questions about FDA’s January 2025 21 CFR 211.110 guidance document.
Mastering Antibody-Drug Conjugates
December 19th 2024In this episode, we explore BIOVECTRA’s capabilities in antibody-drug conjugate (ADC) manufacturing, from complex conjugation chemistry to synthesis of highly potent payloads. We’ll also showcase how BIOVECTRA’s extensive experience in complex chemistries and specialized small molecule manufacturing gives them a unique perspective, strengthening their approach to ADC production and ensuring clients receive custom solutions across all project stages.
AES Clean Technology Launches Next-Generation OSM Utility Solution for Cleanrooms at INTERPHEX 2025
April 2nd 2025Officially launched at INTERPHEX 2025, the Omni ASCENT is a next-generation off-site manufactured vertical utility solution that offers optimized cleanroom flexibility and efficiency.
