The deal: Lilly buys ImClone

WHAT HAPPENED: Indianapolis-based drug maker Eli Lilly & Co. is buying the biotech firm ImClone Systems Inc. for more than $6 billion.

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Eli Lilly to buy ImClone for more than $6B

Eli Lilly & Co.'s winning bid of more than $6 billion for cancer drugmaker ImClone Systems means a billion-dollar payday for former rival bidder Bristol-Myers and vindication for corporate raider and ImClone Chairman Carl Icahn.

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Report: ImClone's secret suitor is Eli Lilly

Drugmaker Eli Lilly & Co. reportedly is the secret suitor that's been courting ImClone Systems Inc. and is offering approximately $6.1 billion for the biotech company.

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ImClone could name $70-a-share bidder on Wednesday

ImClone Systems Inc. said Monday it expects either a solid purchase proposal or formal rejection by Wednesday night from its mystery suitor, which ImClone says is offering $70 per share for the biotech company.

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Bristol-Myers CFO: We could walk away from ImClone

Bristol-Myers Squibb Co. might be willing to drop its quest to acquire partner biotech company ImClone Systems Inc. — under unspecified conditions.

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ImClone hints at dim view of Bristol-Myers offer

ImClone Systems Inc.'s board of directors said Monday 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.

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Bristol-Myers offering $4.5 billion for ImClone

Bristol-Myers Squibb Co. on Thursday offered $4.5 billion in cash for its cancer drug partner, biotechnology company ImClone Systems Inc., saying the two are "a natural fit."

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The drug Erbitux from ImClone and Bristol-Myers Squibb prolonged survival by a little less than a month in colorectal cancer patients getting chemotherapy who had not been previously treated, according to study results announced Monday.

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Adding ImClone Systems Inc.'s Erbitux to a regimen of chemotherapy prolonged survival more than chemotherapy alone in patients with head and neck cancer that has recurred or spread, according to a study.

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Adding ImClone's Erbitux to a regimen of chemotherapy prolonged survival more than chemotherapy alone in patients with head and neck cancer that has recurred or spread, according to a study.

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