Eli Lilly isn't wasting any time capitalizing on its $6.5 billion buyout of ImClone Systems. Lilly says it is planning new human trials on up to eight of the ImClone cancer programs it acquired, including three late-stage trials.
Phase III trials are being readied for IMC-1121B, an experimental therapy for advanced stomach cancer and breast cancer; IMC-11F8 for colon, head and neck tumors, a possible successor to Erbitux; and IMC-A12. And Lilly knows that the market will be watching the data closely to determine whether or not the company got a good deal for its money.
"If two or more of these ImClone medicines cross the finish line, then this was a smart business deal," Lilly Executive Vice President Steven Paul tells Bloomberg. "ImClone is really complimentary because it gives us cancer antibodies we didn't have."
- read the story from Bloomberg