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ImClone Falls on Erbitux Sales

Stock quotes in this article: IMCL , BMY  

Shares of ImClone Systems(IMCL Quote) dropped Monday after analysts noticed that U.S. sales of the company's colon cancer drug Erbitux were lower in July.

Recently, ImClone's stock had lost $4.02, or 7.2%, to $51.98.

The dip in U.S. sales to $25.4 million in July vs. $30.1 million in June "is a cause of concern, but not for alarm," said Corey Kasimov of Oppenheimer in a brief note to clients Monday. The sales are tracked by IMS Health. ...

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