NEW YORK--(BUSINESS WIRE)--July 20, 2006--ImClone Systems Incorporated (NASDAQ: IMCL - News) announced today its financial results for the quarter and six months ended June 30, 2006. Total revenues for the second quarter of 2006 were $149.9 million as compared with $92.4 million for the second quarter of 2005, an increase of 62%. Royalty revenue of $74.6 million in the second quarter of 2006 compared with $41.8 million in the second quarter of 2005, an increase of 79%. Royalty revenue for the second quarter of 2006 includes 39% of Bristol-Myers Squibb’s in-market ERBITUX net sales of $172.8 million, compared with second quarter 2005 in-market net sales of $97.9 million, an increase of 77%, and first quarter 2006 net sales of $138.0 million, an increase of 25%. These in-market sales, reflecting a drop-ship distribution methodology, represent ERBITUX shipments to end-user accounts only, with no wholesaler stocking.
