ImClone names new CEO

ImClone, the maker of Erbitux, has named John H. Johnson its CEO, effective August 27, 2007. Johnson was previously Johnson & Johnson's Company Group Chairman of Worldwide Biopharmaceuticals. The top spot at ImClone has been vacant since billionaire investor Carl Icahn took the helm as the former CEO Joseph Fischer bowed out. ImClone's only approved drug--Erbitux--recently flunked a Phase III lung cancer trial and faces competition from other cancer drugs.

- see this press release for more