Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

CIBC World Keeps 'Buy' on ImClone

CIBC World reiterates buy on ImClone (IMCL)/.

Analyst Matthew Geller says the revised deal with Bristol Myers to co-develop a colon cancer drug is a strong positive for ImClone, as it makes only minor changes to the initial pact, and increases Bristol Myers's role in the filing of biologics license application (BLA). Among new terms, instead of a $300M payment by Bristol Myers upon acceptance ofthe BLA filing, there will be an immediate payment of $140 million and an additional $60 million payment in one year, both independent of any FDA action; royalties to ImClone remain at 39% of revenues. Geller says the news of the new deal boosts his confidence that ImClone and Bristol Myers' February 26 meeting with the FDA went well. He has a $34 target.

blog comments powered by Disqus