Eli Lilly to buy ImClone Systems in $6.5 bln al

Eli Lilly has agreed a deal with the board of ImClone Systems to buy the firm, the drugs giant has said. AP Eli Lilly & Co. has agreed to buy biotechnology company ImClone Systems Inc. based ImClone Systems Inc. Outside of banks, Eli Lilly reached a deal to buy ImClone Systems for $6.5 billion, or $70 a share in cash. ImClone Systems Inc., up $1.93 at $66.89. Eli Lilly & Co. ImClone Systems Inc. climbed 3 percent to $66.89. Eli Lilly & Co. ImClone Systems Inc., up $1.93 at $66.89 Eli Lilly & Co. ahead to buy biotechnology company ImClone Systems for more than $6bn. based drug maker Eli Lilly & Co. is buying the biotech firm ImClone Systems Inc. The rating action follows Eli Lilly's announcement of a definitive merger agreement for ImClone Systems Inc. Myers Squibb (NYSE: BMY), for example, is trying to buy ImClone Systems and its Erbitux cancer drug. As nearly every other stock (other than ImClone Systems) got hammered today, Dendreon shares soared $2.41, or 47%, to $7.61. Eli Lilly & Co. said its board approved an acquisition of ImClone Systems Inc. for more than $6 billion. This is the second deal on the west coast and the 14th distribution agreement since launching the product this May On Oct. Eli Lilly & Co. said its board approved an acquisition of ImClone Systems Inc. for more than $6 billion. The acquisition of ImClone Systems Inc (IMCL) by Eli Lilly & Co. �� The drugmaker Eli Lilly & Co. said Monday it has agreed to buy biotechnology company ImClone Systems Inc. By Reuters ?? 2008 Thomson Reuters. All rights reserved. (LLY: News ) said it agreed to buy ImClone Systems Inc.

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