IRJ, you were "more" right, I was "almost" right, but the legal fight menace and Imcl need for deflection of Sec/Justice/Congress was a big part of Bmy ability to change the agreement.
Nothing (yet?) in the new agreement about allowing Bmy to sell its shares at will immediately out of the 3 years lock up period.
The "flat based" 39% on revnues "distribution fee" decreases the future profits of Imcl 50% or more, if Bmy goes tough it could be a bigger reduction.
In general, quite good for Imcl, mediocre for Bmy.
Now, it seems that Imcl could concentrate in resolving their legal problems, while Bmy concentrate on the drug:
"" Bristol-Myers Squibb. ``As the world leader in oncology, we are looking forward to playing an expanded clinical and strategic role related to the ERBITUX development program, working in close collaboration with the ImClone Systems team.""
I read this as Imcl will probably pay Bmy for the "expanded clinical and strategic role" (that way Bmy could recover part of its money). Maybe, not, and Bmy is just an idiot (nothing new).
And the leader of the joint team is ""Andrew G. Bodnar, M.D., J.D., ""
The man is a physician and LAWYER !!!
I love lawyers, pillars of civilization !!! |
