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Resource ID: #21816
Subject: Business
Source: HarperCollins (New York)
Affiliation: 
Date: Jan. 20, 2004

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Description

This book is a behind-the-scenes look at ImClone and the biotech company's CEO, Sam Waksal. ImClone's drug Erbitux promised a revolutionary way to treat cancer. Bristol-Myers Squibb signed an unprecedented $2 billion deal to market the drug. Waksal lived a life of luxury. But by late December 2001 the FDA rejected Erbitux because ImClone's science was "sloppy" and "incomplete." Waksal tried to cash in before his stock plummeted on the news. He forged signatures and traded his family's shares on inside information, an unfolding scandal that also ensnared Martha Stewart, a friend of Waksal. He is now in jail.

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