Lilly’s oncology pipeline is boosted as a result.
Eli Lilly and Company completed its acquisition of ImClone Systems today. ImClone Systems is now a wholly owned subsidiary of Lilly.
“We are excited about the successful completion of the ImClone transaction, which will broaden Lilly’s portfolio of marketed cancer therapies and boost Lilly’s oncology pipeline with up to three promising targeted therapies in Phase III in 2009,” said John Lechleiter, Ph.D., Lilly president and CEO.
ImClone’s CEO, John Johnson, will retain his current position at ImClone after the acquisition and will report directly to Lechleiter.