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BUSINESS
September 6, 2002 | ABIGAIL GOLDMAN, TIMES STAFF WRITER
A congressional committee examining Martha Stewart's sale of ImClone Systems Inc. stock has found a possible new discrepancy in her account to investigators, a panel spokesman said Thursday. Stewart has said she and former ImClone Chief Executive Samuel D. Waksal did not speak between Dec. 14 and Jan. 5. But records from a rented mobile phone used by Stewart and an employee show a five-minute call to Waksal's personal mobile phone on Dec.
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BUSINESS
October 2, 2008 | From Bloomberg News
ImClone Systems Inc., the cancer drug maker controlled by billionaire Carl Icahn, said Wednesday that a pharmaceutical company had proposed acquiring it in a deal that was not subject to financing or further due diligence. The prospective buyer requested its name not be divulged yet, ImClone said. Earlier, the Wall Street Journal reported that Eli Lilly & Co. was in talks with ImClone. Lilly, based in Indianapolis, is facing generic competition to its $1.
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BUSINESS
June 9, 2003 | Thomas S. Mulligan, Times Staff Writer
Defense attorney J. Michael Nolan hasn't seen a witness list and he isn't familiar with the physical evidence or other details of the government's case, but he already knows what his final words to the jury would be: "If it wasn't Martha Stewart, do you think we'd be here?" That's the money line, and if Nolan were defending Martha Stewart, he'd build his whole case around it.
BUSINESS
August 5, 2008 | From the Associated Press
ImClone Systems Inc.'s board of directors said Monday that cancer drug partner Bristol-Myers Squibb Co.'s $4.5-billion buyout offer "substantially undervalues" the company, with Chairman Carl Icahn personally against the deal. Despite calling the bid too low, ImClone stopped short of rejecting it and said its board formed a committee to weigh the offer. The board also said it was considering splitting the company into two units to focus on Erbitux and its developing pipeline separately.
BUSINESS
June 13, 2002 | From Bloomberg News
Bristol-Myers Squibb Co. executive Brian Markison will be asked today about how he learned four days beforehand that regulators would reject a cancer drug developed by ImClone Systems Inc., Bristol-Myers' partner, said the chairman of the panel holding the hearing. The Food and Drug Administration on Dec. 28 rejected ImClone's application for Erbitux. Four days earlier, a FDA employee told a Bristol-Myers attorney Dec. 24 that the agency found the application flawed, said Rep. James C.
BUSINESS
June 8, 2005 | From Bloomberg News
ImClone Systems Inc., maker of colon cancer medicine Erbitux, said billionaire investor Carl Icahn was seeking U.S. antitrust clearance to increase his stake in the company to as much as $500 million. Icahn held almost 5 million shares of ImClone, or almost 6% of those outstanding, as of April 18, an ImClone spokesman said. That holding was worth about $150.6 million at the close of trading Tuesday. ImClone shares rose 5 cents to $30.16. The company disclosed Icahn's filing after U.S.
BUSINESS
January 27, 2005 | From Reuters
ImClone Systems Inc. reported its first net loss in four quarters on a charge to settle class-action lawsuits, but results topped expectations and it signed licensing deals related to its colon cancer drug Erbitux, lifting shares 4%. ImClone signed license deals with Genentech Inc. and Johnson & Johnson for the rights to patents covering certain antibody technology related to Erbitux, heading off potential litigation with those companies. The company posted a net loss of $13.
BUSINESS
August 21, 2002 | ABIGAIL GOLDMAN, TIMES STAFF WRITER
Martha Stewart on Tuesday turned over about 1,000 pages of e-mail notes, phone records and other documents to a congressional panel investigating whether she had inside information when she sold shares of ImClone Systems Inc. or had obstructed the government's examination of the sale.
BUSINESS
June 25, 2002 | From Associated Press
Congressional investigators Monday were looking at new information that appears to contradict what Martha Stewart and her now-suspended broker have said about her sale of ImClone Systems Inc. stock. A House committee is interested in a widening circle of Stewart acquaintances. The latest is a doctor who also sold shares of the biotech company shortly before the government announced it had rejected ImClone's approval application for the cancer drug Erbitux.
BUSINESS
February 22, 2002 | From Times Staff and Wire Reports
The House Energy and Commerce Committee is seeking records from Amgen Inc., Pharmacia Corp. and five other drug makers on their discussions with ImClone Systems Inc. about possible partnerships. The committee, along with the Justice Department and the Securities and Exchange Commission, is investigating whether ImClone misled investors about its cancer drug Erbitux. Letters also were sent to Eli Lilly & Co., Merck & Co., Johnson & Johnson, Chiron Corp., and Abbott Laboratories.
BUSINESS
August 1, 2008 | From the Associated Press
Bristol-Myers Squibb Co. on Thursday offered $4.5 billion in cash for biotechnology company ImClone Systems Inc., saying the two, which are cancer drug partners, were "a natural fit." The proposal offers ImClone stockholders $60 a share, a 30% premium over the company's closing price of $46.44 on Wednesday. Bristol-Myers, the world's No. 14 drug maker by revenue, already owns about 17% of ImClone.
BUSINESS
September 13, 2007 | From Times Wire Services
Biotechnology company ImClone Systems Inc. said Wednesday that it was "pure coincidence" that its new chief executive bought $500,000 of company stock just days before the value of the shares soared on positive news about ImClone's cancer drug Erbitux. John Johnson took the helm of ImClone on Aug. 27 after signing a four-year employment agreement with the New York-based company. Johnson on Sept. 7 paid $500,000 for 13,609 shares of ImClone at an average price of $36.74 each. The stock soared $6.
BUSINESS
November 9, 2006 | From Dow Jones/the Associated Press
Martha Stewart Living Omnimedia Inc. said Wednesday that founder Martha Stewart was expected to pay about $5 million to settle a class-action lawsuit that alleged she lied about her sale of ImClone Systems Inc. shares in 2001. The total settlement is expected to cost $30 million, of which the company expects to pay about $15 million, its insurers about $10 million and Stewart the rest, the company said in its quarterly report filed with the Securities and Exchange Commission.
BUSINESS
August 24, 2006 | From Bloomberg News
Billionaire investor Carl Icahn said that he wanted to be a member of ImClone Systems Inc.'s board and that the biotechnology company's chairman, David M. Kies, should not be reelected. Icahn, 70, said acting Chief Executive Joseph Fischer should be replaced by someone with a "significantly stronger background in biotechnology," according to a regulatory filing.
BUSINESS
August 15, 2006 | From Bloomberg News
Carl Icahn increased his stake in ImClone Systems Inc. and hasn't yet decided whether to join the biotechnology company's board, according to a regulatory filing. The company, best known for its role in the Martha Stewart trading scandal, offered a board seat to the billionaire U.S. investor last week, after ImClone abandoned a six-month search for a buyer. Icahn, ImClone's second-biggest stockholder, raised his stake to 11.
BUSINESS
January 25, 2006 | From Reuters
ImClone Systems Inc. said it had hired investment bank Lazard Ltd. to explore the potential sale or merger of the company as competition for its colon cancer drug Erbitux heats up. Investors are skeptical that the New York-based company will easily find a buyer. Some analysts said the most obvious purchaser would be Bristol-Myers Squibb Co., which owns about 20% of ImClone and is in charge of the clinical development of Erbitux.
BUSINESS
July 13, 2002 | Bloomberg News
Samuel D. Waksal, the former chief executive of ImClone Systems Inc. who last month was accused of insider trading, is talking to the government about pleading guilty in exchange for a reduced sentence, federal prosecutors said. The prosecutors also are investigating whether Martha Stewart may have benefited from insider tips from Waksal, a friend with whom she shared a broker. Waksal's cooperation in the probe might help win him lenient treatment.
BUSINESS
September 11, 2002 | JUBE SHIVER Jr. and ABIGAIL GOLDMAN, TIMES STAFF WRITERS
House leaders on Tuesday asked the Justice Department to launch a criminal probe of homemaking celebrity Martha Stewart, saying she may have misled investigators about her sale of a biotech stock. The House Energy and Commerce Committee has been investigating whether Stewart, a former stockbroker who is now chief executive of Martha Stewart Living Omnimedia Inc., relied on inside information when she sold nearly 4,000 shares of ImClone Systems Inc.
BUSINESS
November 4, 2005 | From Reuters
Two friends of former ImClone Systems Inc. Chief Executive Samuel D. Waksal agreed to pay a combined $2.8 million to settle civil charges of insider trading, the Securities and Exchange Commission said Thursday. Zvi Fuks and Sabina Ben-Yehuda, who were also arrested in March on criminal charges of insider trading of ImClone stock in December 2001, settled without admitting or denying the civil charges, the SEC said.
BUSINESS
June 8, 2005 | From Bloomberg News
ImClone Systems Inc., maker of colon cancer medicine Erbitux, said billionaire investor Carl Icahn was seeking U.S. antitrust clearance to increase his stake in the company to as much as $500 million. Icahn held almost 5 million shares of ImClone, or almost 6% of those outstanding, as of April 18, an ImClone spokesman said. That holding was worth about $150.6 million at the close of trading Tuesday. ImClone shares rose 5 cents to $30.16. The company disclosed Icahn's filing after U.S.
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