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April 24, 2008
By: Tim Wright
Editor-in-Chief, Contract Pharma
ImClone Systems 1Q Revenues: $162.6 million (+15%) 1Q Loss: $55.9 million (earnings were $28.8 million in 1Q08) Comments: Erbitux sales were $417.3 million (+12%). Royalty revenue related to Erbitux was $95.0 million (+24%). License fees and milestone revenue was $24.1 million (-18%). This decrease was due to the amended agreement with BMS for the co-development and co-commercialization for Erbitux in North America. Manufacturing revenue was $25.4 million (+54%) due to increased deman...
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