April 26, 2004
San Antonio Business Journal
The Federal Trade Commission has sent a letter to both ILEX Oncology Inc. and Genzyme Corp. requesting more information relating to Genzyme's buyout of ILEX.
However, officials with ILEX anticipate this additional review will not hamper the companies' original timetable for completing the transaction by mid-year.
Craig Tooman, senior vice president of strategic planning and corporate communication for ILEX, says the FTC's request seems to center around a potential overlap between ILEX's non-oncology uses of Campath and Genzyme's drug Thymoglobulin.
The Food and Drug Administration already has approved Campath for treating certain leukemias. However, ILEX is experimentally field testing Campath for use in treating multiple sclerosis and solid organ transplants. Thymoglobulin is used to prevent organ rejection in kidney-transplant patients.
The FTC must still sign off on the proposed transaction -- along with
the Securities and Exchange Commission -- before shareholders are allowed
to vote on the stock-for-stock merger.
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