From CBS.MarketWatch.com “Erbitux powers ImClone profit surge” (April 27, 2004):
ImClone Systems said Tuesday that first-quarter revenue improved dramatically, largely as a result of sales of the cancer drug Erbitux. The New York-based biotech company (IMCL: news, chart, profile) said revenue in the first quarter increased fivefold to $109.6 million. Analysts polled by Thomson First Call had forecast sales of between $36 million and $74 million….”We were pleased with the sales of Erbitux in just over five weeks of product shipments during the quarter, as they appear to indicate that physicians are rapidly integrating this first-of-its-kind antibody into patients’ treatment regimens,” Chief Executive Daniel Lynch said in a press release.
Recommended Reading:
ImClone’s Sam Waksal Should Have Read Ayn Rand’s ‘Atlas Shrugged’
If Sam Waksal had read ‘Atlas Shrugged,’ he may have walked free.
The SEC’s “Insider Trading” Witch Hunt Against ImClone’s Sam Waksal: Scapegoat for the Sins of the FDA
Observe the injustice involved here. The FDA obstructed the launch of a product; then the SEC forced the termination of that product’s primary creator. Yet it’s not any regulator but the creator — Sam Waksal — who faces jail time for helping his family mitigate regulatory destructiveness.