Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

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.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...