Published: Wednesday, November 7, 2007
Future of ICOS' Bothell plant uncertain
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Snohomish County Business Journal
The last remnant of ICOS, its manufacturing facility in Bothell, continues to operate as Eli Lilly searches for a buyer.
BOTHELL -- ICOS Corp.'s contract manufacturing facility is still open nine months after the company was swallowed by pharmaceutical giant Eli Lilly & Co., but that may change soon.
When Lilly bought the largest biotechnology company based in Washington state for $2.3 billion in late January, most of ICOS' employees were laid off within a few months.
But the manufacturing facility, which makes batches of drugs for other companies, stayed open. Employing about 125 people at last count, the facility specializes in making small quantities of biotech drugs for use in clinical trials.
ICOS had enough contracts for that work to keep the operation humming through at least the end of the year, according to Lilly. In the meantime, Lilly said it hoped to find a buyer for that operation.
Months have passed. In October, ICOS auctioned much of its remaining laboratory and office equipment. But the contract facility has kept rolling.
Lilly spokesman Ed Sagebiel said late last week that no decisions have been made about its future, declining to comment further.
Ken Ferguson, president of the ICOS subsidiary, could not be reached for comment. He has been quoted recently, however, as saying that a buyer is still being sought.
Matt Smith, vice president of the Snohomish County Economic Development Council, said he assumes that's still Lilly's plan -- to sell it to another biotech-related company.
"They haven't told me they're not," Smith said.
The Economic Development Council hopes the facility stays open, as it provides jobs that pay well. It also is all that's left of a biotech company that formerly employed more than 500 people locally and was among the highest-profile firms in that industry.
Founded in 1990, ICOS created the erectile dysfunction drug Cialis with support from a development and marketing agreement with Lilly. That drug achieved near-blockbuster sales before Lilly announced it would buy ICOS, giving it all of the revenue generated by Cialis.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com
When Lilly bought the largest biotechnology company based in Washington state for $2.3 billion in late January, most of ICOS' employees were laid off within a few months.
But the manufacturing facility, which makes batches of drugs for other companies, stayed open. Employing about 125 people at last count, the facility specializes in making small quantities of biotech drugs for use in clinical trials.
ICOS had enough contracts for that work to keep the operation humming through at least the end of the year, according to Lilly. In the meantime, Lilly said it hoped to find a buyer for that operation.
Months have passed. In October, ICOS auctioned much of its remaining laboratory and office equipment. But the contract facility has kept rolling.
Lilly spokesman Ed Sagebiel said late last week that no decisions have been made about its future, declining to comment further.
Ken Ferguson, president of the ICOS subsidiary, could not be reached for comment. He has been quoted recently, however, as saying that a buyer is still being sought.
Matt Smith, vice president of the Snohomish County Economic Development Council, said he assumes that's still Lilly's plan -- to sell it to another biotech-related company.
"They haven't told me they're not," Smith said.
The Economic Development Council hopes the facility stays open, as it provides jobs that pay well. It also is all that's left of a biotech company that formerly employed more than 500 people locally and was among the highest-profile firms in that industry.
Founded in 1990, ICOS created the erectile dysfunction drug Cialis with support from a development and marketing agreement with Lilly. That drug achieved near-blockbuster sales before Lilly announced it would buy ICOS, giving it all of the revenue generated by Cialis.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com
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