Sources say Lilly the mystery buyer in ImClone deal

NEW YORK It appears the mystery company that beat out Bristol-Myers Squibb in the bidding war for ImClone has been revealed.

According to reports, Indianapolis-based Eli Lilly offered $70 a share for the New York biotech, which specializes in cancer drugs.

Bristol, which owns 16.6 percent of ImClone, had offered $60 a share, which it later increased to $62, but its offer drew ridicule from ImClone chairman Carl Icahn. Bristol has a partnership with ImClone to market the cancer drug Erbitux (cetuximab).