Word: erbitux
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Dates: during 2002-2002
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...center of the latest greedfest is Sam Waksal, an immunologist who turned into a dazzling biotechnology entrepreneur. In 1984 he founded ImClone, a little-known company until it made headlines for an apparent success with a cancer treatment called Erbitux in 1999. Waksal, 54, was always as much salesman as scientist and employed his reputation and charm as a ladder into elite circles that included home-decor guru Stewart, Mick Jagger, actress Mariel Hemingway, financier Carl Icahn and Dr. John Mendelsohn, the cancer-drug pioneer and former Enron board member. Waksal's eclectic posse combined science and celebrity with stock...
...charges against Waksal stem from his attempt to sell $4.9 million of ImClone stock on Dec. 27. He learned on Dec. 26 that the company's application for the cancer drug Erbitux was going to be denied review by the U.S. Food and Drug Administration-news that the company made public after the markets closed on Dec. 28. He is also accused of tipping off his daughter Aliza, who sold $2.5 million of ImClone, and his father Jack, who sold $6.7 million of the stock ahead of the FDA news. Only Waksal has been charged; he denies wrongdoing...
...beheaded by supporters of the Zanu PF, Zimbabwe's ruling party. The police say the killing never took place. Meldrum is being prosecuted under stringent media laws designed to curb government criticism. ARRESTED. SAMUEL WAKSAL, 54, former CEO of ImClone Systems, the biotech company behind the experimental cancer drug Erbitux, on charges of illegal insider trading; in New York City. Waksal is accused of trying to unload his shares and telling two shareholders to sell their stock the day before the U.S. Food and Drug Administration announced it was rejecting ImClone's application for the approval of Erbitux. Waksal...