graphic
graphic  

graphic
    Home

    News 

 companies
 company research
 deals
 economy
 financial news in brief
 industry watch
 international
 
    Markets & Stocks

    Commentary

    Technology

    Personal Finance

    Retirement

    Mutual Funds

    Money 101

    Money's Best

Track your stocks

Calculators

  CNN on TV
  Watch CNN video
  Buy show videos

  Services

  CNN.com

  CNNSI.com

  MONEY Magazine
  Customer Service


  E-MAIL
  NEWSLETTERS
  sign up!

  MOBILE NEWS
  •AvantGo
  sign up!

 graphic
News
graphic
ImClone info requested
House Committee asks for records from seven drug companies.
February 21, 2002: 8:04 p.m. ET
graphic NEW YORK (CNN/Money) - A U.S. House of Representatives investigative panel has asked seven major drug companies to turn over all records involving strategic partnership discussions with ImClone Systems.

The House Energy and Commerce Committee has asked for all pertinent documents from companies which talked to ImClone (IMCL: down $1.12 to $16.77, Research, Estimates) about a possible partnership for the cancer drug Erbitux, before the biotech made a deal with Bristol-Myers Squibb Co.

graphic
graphic graphic
graphic
The companies listed are Pharmacia Corp. (PHA: Research, Estimates), Merck & Co. Inc. (MRK: Research, Estimates), Eli Lilly & Co. (LLY: Research, Estimates), Johnson & Johnson (JNJ: Research, Estimates), Chiron Corp. (CHIR: Research, Estimates), Amgen Inc. (AMGN: down $1.36 to $57.59, Research, Estimates) and Abbott Laboratories (ABT: Research, Estimates).

In a letter to each of the companies, the Committee requested "all records including internal audits, investigations, and/or reports relating to ImClone Systems" by Feb. 28.

The Committee said while no deal came about, it understands each of the companies conducted due diligence efforts relating to Erbitux and ImClone.

The Committee's investigation was first announced on Jan. 18.

ImClone has been hit with a number of class-action suits from investors alleging that CEO Sam Waksal made misleading statements concerning the approval process for its cancer drug Erbitux.  graphic
SPECIAL:

  RELATED STORIES

Waksal returned profits - Feb. 21, 2002

ImClone stands pat - Feb. 12, 2002




graphic
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council
graphic