Lilly is betting that ImClone's three other cancer treatments
that may enter late-stage clinical trials within a year will eventually be revenue drivers by 2010 -- all this despite potential trouble from ImClone shareholder Bristol-Myers Squibb Co.
Fitch placed its AA issuer debt rating on its rating watch
negative list. Fitch is concerned leverage will increase to $3 billion
from $2 billion to consummate the ImClone deal.
Eli Lilly
currently has only $500 million of debt set to mature when patents for
its current drugs are set to expire after the end of the decade.
Overall, Lilly has $4.61 billion of outstanding debt. - Gerald Magpily
See Dealscape: Eli Lilly buys ImClone for $6.5B
See Dealscape: Bristol-Myers could make ImClone a hard pill to swallow