Word: icahn
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Dates: during 2000-2009
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...made headlines for an apparent success with a cancer treatment called Erbitux in 1999. Waksal, 54, was always as much salesman as scientist and employed his reputation and charm as a ladder into elite circles that included home-decor guru Stewart, Mick Jagger, actress Mariel Hemingway, financier Carl Icahn and Dr. John Mendelsohn, the cancer-drug pioneer and former Enron board member. Waksal's eclectic posse combined science and celebrity with stock-market speculation. It was an intoxicating lifestyle that the ImClone chief apparently savored...
...dispute that Erbitux has great potential, and Sam Waksal's supporters say he deserves the credit. "Erbitux would not have gotten this far, this fast, without Sam," says Icahn, who held ImClone shares last year but sold them months before the FDA rejection. It was in April 1999 that Shannon Kellum, 28 and diagnosed with incurable colon cancer, began taking Erbitux. Within months her tumors had shrunk to a fifth their previous size. Much of the hype around ImClone was built on that one success. ImClone was so eager to cash in that, according to the FDA, it mishandled...
...lost his bid for a presidential pardon, but some familiar wheeler-dealers that he either funded or fought in his heyday as Wall Street's junk-bond king have resurfaced, let back in the game by a receding stock market. And they aim to play. The names include Carl Icahn, Henry Silverman, Ted Forstmann, Irwin Jacobs and Henry Kravis--an '80s reprise that almost makes you want to cue the Ramones and slam dance...
...course, a few key '80s players never went away. Bottom fisher Sanford Weill, for one, amassed an impressive array of financial companies on the cheap while others were getting tech-obsessed. He is now the head of Citigroup, one of the world's largest banks. Icahn, the '80s raider who shook Texaco and took TWA, has asserted influence in small doses throughout the '90s by buying large amounts of distressed corporate debt, as has former Milken colleague Leon Black at Apollo Advisors...
...Icahn, though, has clearly stepped up his pace, pushing Nabisco Holdings into the arms of Philip Morris and briefly rattling mighty GM's cage with a large stock purchase last year. Now he's thrusting himself into the middle of American Airlines' plans to buy TWA--long after he sold his controlling interest in the latter...