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Biotech / Medical : Biotech failure, 2002
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To: Miljenko Zuanic who wrote (7)1/18/2002 7:42:03 PM
From: Miljenko Zuanic   of 130
 
And again today from IMCL.
When we will have day when there is no bad news for sector?

Friday January 18, 3:42 pm Eastern Time
Press Release
SOURCE: ImClone
ImClone Systems Makes Statement Concerning Congressional Committee Inquiry
NEW YORK--(BW HealthWire)--Jan. 18, 2002--ImClone Systems Incorporated received a letter of inquiry today from the Subcommittee on Oversight and Investigations of the U.S. House of Representatives Committee on Energy and Commerce. The Committee has requested information pertaining to Erbitux(TM), an investigational drug being studied by ImClone Systems. The information requested is a result of the Committee's concerns based on recent stories in the media concerning the Company's receipt of a refusal to file letter for Erbitux as well as significant public information and media attention surrounding Erbitux. Specifically, the Subcommittee has requested records in connection with the refusal to file letter, records relating to meetings between the U.S. Food and Drug Administration (FDA) and the Company concerning Erbitux, and records relating to the pivotal study. The Company intends to cooperate fully in response to the inquiry.

The Company remains fully confident in Erbitux and looks forward to continuing its dialogue with the FDA regarding the potential approval of this drug. We are committed to serving the needs of people with cancer and we will allocate all necessary resources to ensure a full and timely review of Erbitux by the FDA.
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