Im Clone Systems Inc. history

Harlan became a pathologist, receiving a medical degree from Tufts University School of Medicine in 1979.

As had been the case at his previous stops, the effects of the charismatic Waksal soon wore off and his superiors grew suspicious about his work: some experiments were not conducted on time and, more troubling, others appeared to be purely fictional. It was at this point, in February 1981, that Harlan Waksal, a medical resident at Tufts, was arrested in the Fort Lauderdale International Airport with more than two pounds of cocaine stashed in his underwear and carry-on bag.

In April 1982 he was found guilty of possession of cocaine with intent to distribute and sentenced to a nine-year prison term.

Founding ImClone in 1984

The Wall Street Journal interviewed Alexandra Bona who worked for Waksal: "'One day in 1985, the Waksal lab imploded,' she recalls.

In 1986 ImClone opened its own laboratories, located in Manhattan's SoHo district on the site of a bankrupt shoe factory.

According to Business Week, "Over the next few years, Sam engineered several funding deals to keep ImClone alive until the company went through with its IPO in 1991.

Erbitux Trials Beginning in 1994

That emphasis would shift in 1999 when Erbitux was used on a patient named Shannon Kellum, who had colon cancer that spread to her liver and abdomen.

The events began in 2001.

When the stock was at its nadir in 2002, Bristol-Myers could have picked up the rest of ImClone for a song.

In June 2003 he was sentenced to 87 months in prison and ordered to pay $3 million in fines.

Lilly said it hoped to close the deal by the first quarter of 2009.