Ending a bidding war, the US pharmaceutical concern Eli Lilly intends to take over the US biotech firm ImClone for 6.5 billion dollar, the two companies said Monday in new York.

ImClone shareholders must approve the offer.

Eli Lilly beat out its US rival Bristol-Myers Squibb, which had raised its offer to 5.4 billion dollars. Bristol-Myers Squibb already owns 17 per cent of ImClone and works closely with the company.