E-Mail Told Of Bad News For ImClone: FDA Drug Action Tip Led to Sell-Off

WASHINGTON POST EXCERPT Page E01 ^ | 6/25/02 | Justin Gillis and Ben White

[Liz]

The e-mail message that set off a chain of sales of ImClone Systems Inc. stock last year andeventually led to the arrest of its former chief executive explicitly said the company's cancer drug, Erbitux, was about to be rejected by the Food and Drug Administration.

A Dec. 24 e-mail message to Bristol-Myers Squibb Co. executives from a Washington lawyer cited an FDA official as saying that bad news was coming, in the form of an FDA document called a "refusal to file letter" or "RTF" -- effectively, a rejection notice. Bristol and ImClone were partners in developing Erbitux.

[Liz]

Just wondering. Is the FDA operative a Clinton administration holdover helping out his Dem pals?

[Liz]

................ping.......... .........

[TheEngineer]

This Pazdur guy looks like he's in deep doodoo.

[colorado tanker]

Hmmm. Well, let's get Fineman on this. What did President Bush know about Pazdur and the RTF and when did he know it?

[SunTzuWu]

Yes, he is a Clinton holdover. He was also endorsed by the Cancer Leadership Council for the position of FDA Commissioner here and here.

[lilylangtree]

In light of the major corporations declaring Chapter 11 with ordinary workers losing life savings, I'm glad to see Martha Stewart investigated. I'm not a Clintoon supporter, but I think corporate America and the all encompassing greed of the Terry McAuliffes, Ken Lays, Martha Stewarts, etc. should be investigated thoroughly.

[Grampa Dave]

SunTzuWu, thanks for your links and quick response.

This just sends a positive chill up my back and causes a hugh grin :).

Only Free Republic can provide the platform that enables this.

Liz finds this and posts it with a valid question of who this guy is/was?

Boom, you post the real data!

[Ernest_at_the_Beach]

There is something to be explored here.

The FDA powers don't do this all the time. Cell Pathways got the shaft on their Cancer Drug Aptosyn , and to my knowledge no one was given advance knowledge (well some people shorting the stock big time might have ).

[Ernest_at_the_Beach]

see post #8.

Company Info here:

Cell Pathways, Inc

[Squantos]

Cancer Leadership Council ..........

Albeit a bit off the subject here but that is a group that does "not" want to cure cancer or they are out of work.......IMHO

Stay Safe !

[Grampa Dave]

To prevent shorting, FDA did not use to do this.

Is this an example of the new FDA under the many appointments by the Clintoons?

Thanks for the ping and the link to their site.

[fuzzthatwuz]

Excellent response. Answers many questions!

[Shermy]

Thanks for the Ping.

Good work Sunny. Wonder if the squealer did it for money, payback on the back side for endorsements, something else. He seems to be the industry's boy. Wouldn't it be nice if he told the country and all the share holders at the same time.

[beckett]

Remind me not to retain the services of Alan Bennett.

How dumb do you have to be to memorialize illegal inside information in a traceable email over your own signature? Just dumb enough to pass the bar, I guess.

[Digger]

Just dumb enough to keep the cesspool of corruption in total operation by this "compromised president". But that's what you get when electing people in this corrupted "Two-Party Cartel".

[beckett]

Just dumb enough to keep the cesspool of corruption in total operation by this "compromised president". But that's what you get when electing people in this corrupted "Two-Party Cartel".

Huh? On second thought, nevermind. I don't think I want to know.

[Future Useless Eater]

Just wondering. Is the FDA operative a Clinton administration holdover helping out his Dem pals?

Anyone who TRADES based on inside information not yet public (even if it is vague and 2nd or 3rd-hand) is guilty of a felony.

Where is our SEC when we need them?

[patriot5186]

exactly. I hope the SEC has teeth on all these felonies. The lack of ethics is sickening.