Imclone Demands $65 Million From Abbott

     BOSTON (CN) – Imclone Systems claims Abbott Laboratories “concealed a document in a prior patent infringement proceeding” regarding Imclone’s Erbitux cancer drug, wrongfully causing Imclone to pay a $65 million judgment to Repligen Corp. and MIT.




     This federal complaint centers around the drug whose regulatory history was the cause of the stock trading that sent Martha Stewart to prison. Stewart dumped Imclone shares in 2001 after being tipped that the FDA had failed to approve Erbitux. Imclone founder Samuel Waksal also was sent to prison for inside trading.
     The FDA approved the drug for colorectal cancer in 2004.
     Imclone’s claims in this case involve cell line C225, which Abbott claims it owned. Imclone says Abbott’s patent was exhausted when Repligen’s predecessor Damon Biotech provided the cell line to the National Cancer Institute. Imclone claims Abbott concealed that federal contract.
     Imclone is represented by Michael Gottfried with Duane Morris.

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