ImClone Receives $3 Million From Merck
From Bloomberg News
ImClone Systems Inc. said it got $3 million from European partner Merck for meeting a goal in developing its cancer drug Erbitux.
The biotechnology company plans to seek U.S. approval of Erbitux for colon cancer this year. Darmstadt, Germany-based Merck will seek European clearance.
ImClone shares rose $1.35, or 4.2%, to $33.50 on Nasdaq.
