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                                                             Exhibit 99(a)(1)(H)






CONTACT: TRACY FUREY              BRIAN HENRY              TIMOTHY COST
         BRISTOL-MYERS SQUIBB     BRISTOL-MYERS SQUIBB     BRISTOL-MYERS SQUIBB
         PUBLIC AFFAIRS           PUBLIC AFFAIRS           INVESTOR RELATIONS
         (609) 252-3208           (609) 252-3337           (212) 546-4103

FOR IMMEDIATE RELEASE

 BRISTOL-MYERS SQUIBB AND IMCLONE SYSTEMS ENTER INTO LANDMARK COMMERCIALIZATION
          AGREEMENT FOR IMPORTANT INVESTIGATIONAL CANCER DRUG IMC-C225

            BRISTOL-MYERS SQUIBB TO ACQUIRE AN APPROXIMATE 20 PERCENT
                        EQUITY STAKE IN IMCLONE SYSTEMS

(PRINCETON, N.J., SEPTEMBER 19, 2001) -- Bristol-Myers Squibb Company (NYSE:
BMY) announced today that it has reached an agreement with ImClone Systems
(NASDAQ: IMCL) to co-develop and co-promote IMC-C225 in the United States,
Canada and Japan. IMC-C225 is an investigational drug designed to target and
block the Epidermal Growth Factor Receptor (EGFR), which is overexpressed on the
surface of certain cancer cells. The companies believe this investigational drug
already has great potential in the treatment of several cancers, including
colon, head and neck, pancreatic and non-small cell lung cancers. In February
2001, the U.S. Food and Drug Administration granted ImClone Systems a Fast Track
designation for IMC-C225 in the treatment of refractory colon cancer.

The transaction between Bristol-Myers Squibb and ImClone Systems comprises a
commercial agreement for the co-development and co-promotion of IMC-C225, as
well as the acquisition of an equity stake in ImClone Systems. Under the terms
of the commercial agreement, Bristol-Myers Squibb will pay ImClone Systems a
total of $1 billion in three cash payments for the achievement of the following
milestones: one upon the signing of the agreement, one upon the completion of
the Biologics License Application (BLA) submission with the FDA, and one upon
the marketing approval of IMC-C225 by the FDA. In addition, ImClone will receive
a significant share of product revenues. The term of the commercial agreement
runs through at least 2018.

"As the worldwide leader in cancer drug development, Bristol-Myers Squibb is
constantly searching for breakthrough medicines to help patients in need and
ImClone Systems' IMC-C225 represents one of the most important advances in
cancer medicine since the introduction of TAXOL(R) (paclitaxel) in 1991," said
Peter R. Dolan, chairman and chief executive officer, Bristol-Myers Squibb. "The
partnership with ImClone Systems demonstrates our continued commitment to
achieve our strategies for growth; focuses our efforts on medicines with
blockbuster potential; broadens our growth opportunities through aggressive
external development; and is a significant step towards becoming a leader in
biologics."

In addition to the commercial agreement, Bristol-Myers Squibb will acquire
approximately 14.4 million shares of ImClone Systems stock though a tender offer
made to ImClone Systems shareholders at a price of $70 per share. Bristol-Myers
Squibb estimates that the dilution from the transaction will be between $.05 and
$.07 in 2002, and $.05 and $.07 in 2003. Thereafter, the strategic agreement
that extends at least through 2018 will be accretive and incremental to the
revenue and EPS growth of the Company. This purchase indicates Bristol-Myers
Squibb's long-term interest in the ImClone's potential for growth in not only
oncology drug development, but also in its biotherapeutic capability, which is
highly complementary to Bristol-Myers Squibb's leadership in core therapeutic
areas such as oncology. This collaboration is the latest in a series of
strategic moves to further strengthen Bristol-Myers Squibb's medicines business,
which has been the focus of the company's Strategy for Growth to double sales,
earnings and earnings per share
                                     -more-
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between year-end 2000 and 2005. The acquisition is subject to clearance under
the Hart-Scott-Rodino Antitrust Improvements Act as well as other customary
conditions.

"Our partnership with Bristol-Myers Squibb is a landmark agreement within the
biopharmaceutical industry," stated Samuel D. Waksal, Ph.D., president and chief
executive officer of ImClone Systems Incorporated. "This agreement pairs the
pharmaceutical industry's premier oncology franchise with the leading
biotechnology company in the field of oncology which has developed a rich,
late-stage pipeline of biologic-based therapeutics. We believe that the strength
and vision of this agreement will provide a powerful added value for our
shareholders, as well as patients with cancer who may benefit from treatment
with IMC-C225."

ImClone Systems is studying IMC-C225 in a series of Phase II and Phase III
clinical trials. The company is conducting Phase II clinical studies of IMC-C225
in combination with standard therapies in patients with various stages of
colorectal cancer, pancreatic cancer, head and neck cancer, and non-small cell
lung cancer. In addition to the Phase II studies, the company is conducting a
Phase III clinical trial combining IMC-C225 with chemotherapy and another study
combining IMC-C225 with radiotherapy as first line treatments for head and neck
cancer.

A leader in oncology for the past 40 years, Bristol-Myers Squibb continues to
demonstrate its ongoing commitment to the field of fighting cancer. In addition
to currently marketed medicines such as TAXOL, the Company has a deep and
diverse portfolio of investigational compounds representing novel cytotoxic
therapies and a wide array of new approaches to cancer therapy, including
promising new drug candidates such as novel taxanes, epothilones, ras oncogene
pathway, and matrix metalloproteinase inhibitors that block growth of tumor
blood vessels.

Bristol-Myers Squibb is an $18 billion pharmaceutical and related health care
products company whose mission is to extend and enhance human life.

Bristol-Myers Squibb will conduct an analyst conference call on Wednesday,
September 19 at 1:00 P.M. (ET) to discuss the transaction. The call-in number is
913-981-5581. Investors may listen to the call by linking to the Webcast at
www.bms.com/ir. A replay of the call will be available through the close of
business, Wednesday, October 3, by calling 402-280-9013.

FOR BRISTOL-MYERS SQUIBB

CERTAIN STATEMENTS MADE IN THIS PRESS RELEASE, INCLUDING THE POSSIBLE SUCCESS OF
THE COMPANY'S BUSINESS AND ITS TECHNOLOGY GOALS, ARE FORWARD-LOOKING AND ARE
MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE SECURITIES LITIGATION REFORM
ACT OF 1995. SUCH STATEMENTS INVOLVE RISKS AND UNCERTAINTIES THAT MAY CAUSE THE
COMPANY'S ACTUAL RESULTS OR OUTCOMES TO BE MATERIALLY DIFFERENT FROM THOSE
ANTICIPATED AND DISCUSSED IN THIS PRESS RELEASE. FACTORS THAT MAY CAUSE SUCH A
DIFFERENCE INCLUDE, BUT ARE NOT LIMITED TO, THOSE RISKS AND UNCERTAINTIES
ASSOCIATED WITH THE REGULATORY APPROVAL OF THE COMPANY'S PROPRIETARY DRUGS, AND
OTHER RISKS INCLUDED IN THE COMPANY'S ANNUAL REPORT ON FORM 10-K AND IN THE
COMPANY'S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION DURING THE
PAST 12 MONTH. WE UNDERTAKE NO OBLIGATION TO PUBLICLY UPDATE ANY FORWARD-LOOKING
STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO PURCHASE, A SOLICITATION OF AN
OFFER TO PURCHASE, OR A SOLICITATION OF CONSENTS WITH RESPECT TO ANY SECURITIES.
ANY SUCH OFFER OR SOLICITATION WILL BE MADE ONLY BY MEANS OF THE OFFER TO
PURCHASE UNDER THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE
COMMISSION.

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