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Pharma Thriller: Lilly Rumored To Be Mystery Bidder For ImClone

Executive Summary

Eli Lilly is rumored to be the mystery bidder for ImClone - the latest wrinkle in an ongoing saga that pits the biotech's Chairman Carl Icahn against its marketing partner Bristol-Myers Squibb. Lilly is reportedly offering $6.1 billion for the biotech, or $70 a share, which, if true, validates Icahn's hard-line rejection of a standing offer from BMS to pay $62 a share

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