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ImClone and Bristol-Myers Squibb Announce Joint Agreement With Merck KGaA to Co-Develop and Co-Commercialize ERBITUX(R) in Japan
Date:10/17/2007

NEW YORK, Oct. 17 /PRNewswire-FirstCall/ -- ImClone Systems Incorporated (Nasdaq: IMCL) and Bristol-Myers Squibb Company (NYSE: BMY) today announced that they have established an agreement with Merck KGaA for the co-development and co-commercialization of ERBITUX(R) (cetuximab) in Japan. Under the terms of the agreement, ImClone Systems, Bristol-Myers Squibb and Merck KGaA will collaborate on a joint effort to develop and, following regulatory approval, market ERBITUX in Japan for the treatment of epidermal growth factor receptor (EGFR)-expressing metastatic colorectal cancer (mCRC), as well as for the treatment of any other cancers the parties agree to pursue. Bristol-Myers Squibb and Merck KGaA will utilize their respective sales forces in Japan, and the three companies will share profits/losses realized as a result of the agreement. Merck Serono Japan will distribute the product and record the sales for the collaboration.

The terms of this new agreement provide that Merck KGaA will receive 50 percent of the profit/loss from sales in Japan, and ImClone Systems and BMS will each receive 25 percent. The sharing of profit/loss reflect the co- exclusive rights to ERBITUX in Japan, previously granted by ImClone Systems to Merck KGaA and Bristol-Myers Squibb. In addition to its percentage of profits, ImClone Systems will receive from Merck KGaA a royalty equal to 4.75 percent of total net sales in Japan.

ImClone Systems, Bristol-Myers Squibb and Merck KGaA of Darmstadt,
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SOURCE ImClone Systems Incorporated; Bristol-Myers Squibb Company
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