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Oct. 17, 2007, 9:56 a.m. EDT

ImClone, Bristol-Myers sign Erbitux pact with Merck in Japan

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By Geoffrey Rogow

ImClone Systems Inc. and Bristol-Myers Squibb Co. /zigman2/quotes/202559280/composite BMY +0.13% Wednesday said they signed an agreement with Merck KGaA (MRK.XE) for the co-development and co-commercialization of cancer treatment Erbitux in Japan.

Following regulatory approval of the product, ImClone, Bristol-Myers and Merck will market Erbitux in Japan for the treatment of epidermal growth factor receptor-expressing metastatic colorectal cancer, as well as possibly for other cancers.

The companies said Merck KGaA will receive 50% of the profit or loss from sales in Japan, while ImClone Systems and Bristol-Myers will each receive 25%.

In addition, ImClone Systems will receive from Merck KGaA a royalty of 4.75% of the total net sales in Japan.

ImClone, Bristol-Myers and Merck KGaA submitted an application in Japan earlier this year for the use of Erbitux in treating patients with epidermal growth factor receptor-expressing metastatic colorectal cancer.

-Contact: 201-938-5400

/zigman2/quotes/202559280/composite
US : U.S.: NYSE
$ 79.24
+0.10 +0.13%
Volume: 4.73M
Nov. 25, 2022 1:10p
P/E Ratio
25.82
Dividend Yield
2.73%
Market Cap
$168.48 billion
Rev. per Employee
$1.45M
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