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BW2005  JAN 24,2002       2:00 PACIFIC      05:00 EASTERN


( BW)(TX-INDUSTRIAL-INFO-RES) Amgen Wins, ImClone Loses in FDA
Approval Gamble, in an Advisory by Industrialinfo.com

	   Business Editors

	   HOUSTON--(BUSINESS WIRE)--Jan. 24, 2002--Researched by
Industrialinfo.com (Industrial Information Resources, Inc; Houston,
Texas). With untold millions at stake, drug companies find themselves
playing against dreadful odds with each new product in development.
Beyond the incredible expense of drug development and the strenuous
clinical trial process, manufacturers also have the responsibility to
take it to market. Two recent FDA decisions illustrate just what a
gamble the entire process is.
	   Amgen, Inc. (Thousand Oaks, CA) (NasdaqNM:AMGN) chose to lay a
wager in the form of over $200 million in manufacturing facilities at
their 232-acre Longmont, Colorado campus, years prior to FDA approval
of their drug Aranesp, for patients with anemia-related kidney
problems. It appears likely to pay off with the potential $5 billion
in sales they expect the recently approved Aranesp to help generate.
	   ImClone Systems, Inc. (New York, NY) (NasdaqNM:IMCL), thinking
they had a sure winner in Erbitux, a treatment for colon cancer,
invested $40 million at their Branchburg, NJ facility. ImClone wasn't
alone in feeling confident in anticipating FDA Approval, as
Bristol-Myers Squibb (New York, NY) (NYSE:BMY) invested $1 billion in
September of 2001 to secure the drug's U.S. marketing rights.
	   Since then, the FDA announced on December 28, 2001 that they were
rejecting ImClone's Erbitux application, judging the documentation
insufficient to properly review the drug, ImClone's shares have fallen
drastically from a high of $75.00 on December 6, 2001 to $17.00 on
January 18, 2002. The question is, did ImClone attempt to hedge their
bet by cutting corners during clinical trials?
	   ImClone is struggling to survive, battling lawsuits from irate
investors, and facing a congressional investigation into allegations
that the company deceived those investors. Their newly expanded plant
has been idled. If forced to undergo new trials, Erbitux may not be
available for months, if ever.
	   Amgen is riding the wave of success with a second drug, the
rheumatoid arthritis therapy Kineret, which recently received FDA
Approval. They have announced future plans to expand the Longmont site
to 4 million square feet, an expenditure that could reach
$500,000,000.
	   "If ImClone is ultimately found not to have played by the rules,
then their gamble will prove to be a costly one, both in dollars and
the loss of a potential life saving drug," notes Annette Kreuger,
Industry Manager of Pharmaceutical-Biotech at Industrialinfo.com.
"Amgen played their cards right."
	   Industrialinfo.com provides daily news related to the industrial
market place including industry alerts and databases for the energy
and industrial markets. For more information on trends and upcoming
construction activities in the Pharmaceutical-Biotech markets as well
as other industrial sectors send inquiries to
pharmabiotech@industrialinfo.com or visit us at www.industrialinfo.com

    --30--KO/na*

    CONTACT: Industrialinfo.com
             Annette Kreuger, 713/783-5147

    KEYWORD: TEXAS NEW JERSEY COLORADO
    INDUSTRY KEYWORD: PHARMACEUTICAL MANUFACTURING BIOTECHNOLOGY
CHEMICALS/PLASTICS
    SOURCE: Industrialinfo.com

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