Lilly broke the news Monday morning that ImClone had accepted its offer to acquire the biotech firm for $6.5 billion or $70 per share—Lilly’s largest acquisition ever.

With this purchase Lilly gains control of ImClone’s blockbuster, targeted cancer agent Erbitux, which is marketed for second- and third-line colon cancer and refractory head and neck cancer.

ImClone also has five monoclonal antibodies in clinical development—including one in Phase III and two currently moving out of Phase II trials. The acquisition will help Lilly meet the challenge of patent expiration that it will see in the next decade and bolster its 13 oncology drugs currently in development.

One sticking point will be how the deal affects ImClone’s co-marketing pact with Bristol-Myers Squibb in the United States. BMS currently pays a 39 percent distribution fee to ImClone for Erbitux and owns 17 percent of ImClone stock. In an investor call this morning, Lilly said it could not comment on the situation. (more…)

Promotions and hires for September 26, 2008:

• Merck named Barry J. Goldstein, M.D., vice president of clinical development for diabetes and obesity

• Sanofi-Aventis announced that Chris Viehbacher will succeed current CEO Gerard Le Fur in December

• GlaxoSmithKline named Ellen Strahlman chief medical officer

• Questcor Pharmaceuticals appointed Gary Sawka CFO

• Encorium appointed David Ginsberg president and CEO

• Wyeth named Daniel J. McIntyre vice president, corporate communications

• Genesis Pharmaceuticals appointed John Yang Wang to its board of directors

• Zosano Pharma appointed Gail Schulze chair and CEO

• Lilly named John Lechleiter its board of directors chairman

• Merz Pharmaceuticals named Jack Britts president and CEO

• Ferring Pharmaceuticals appointed Paul Korner, M.D., vice president, medical affairs

• Zafgen appointed Thomas Hughes the company’s first CEO

When 5,742 physicians opt in voting for their favorite medical journal ads over utilizing spare time that never comes, you know it’s a big deal. And yesterday at The Doctor’s Choice awards luncheon sponsored by the Association of Medical Media (AMM), their input was not only showcased on a most refined level but also indicative of what they want pharma marketing to deliver.

It became quite clear to me early in the ceremony that physicians weren’t selecting ads based on how fun and fancy they were, but rather on how they delivered a message straight and to the point. William Castagnoli, director of The Doctor’s Choice awards, echoed my thoughts. (more…)